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Stocks edge higher; Avon, Michael Kors surge

Source : AP
Last Updated: Tue, Feb 12, 2013 17:15 hrs

Stocks are edging mostly higher in midday trading following mixed earnings reports from companies including Avon, Goodyear and Coca-Cola.

The Dow Jones industrial average rose 31 points to 14,003 as of noon Tuesday.

The Standard & Poor's 500 index was up one point at 1,518. The Nasdaq was down six at 3,185.

Avon, a direct seller of beauty products, jumped 17 percent after the company posted a fourth-quarter loss that wasn't as bad as analysts had expected.

Michael Kors, a luxury clothing and accessories seller, rose 11 percent after reporting earnings that beat analysts' predictions.

Coca-Cola fell 3 percent reporting revenue that fell short of analysts' forecasts. Goodyear sank 2 percent after cutting its forecast for full-year earnings, blaming weakness in Europe.

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