& #8226; National

Stocks rose Wednesday on upbeat news from big companies: a patent settlement by Bristol-Myers Squibb; strong earnings from Morgan Stanley; and a cost-cutting deal between General Motors Corp., Delphi Corp. and the United Auto Workers.

The Dow Jones Industrial Average rose 81.96, or 0.7 percent, to 11,317.43, its highest level since May 21, 2001. The Standard & Poor’s 500 Index climbed 7.81, or 0.6 percent, to 1,305.04. The Nasdaq Composite Index gained 9.12, or 0.4 percent, to 2,303.35.

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& #8226; Local


Local movers were led by Ameron International Corp., which gained 2.8 percent to $60, International Rectifier Corp., which rose 4 percent to $40.16, and True Religion Apparel Inc., which climbed 6.6 percent to $19.10. On the down side, UTI Worldwide Inc. fell 0.7 percent to $101.97, DaVita Inc. lost 1 percent to $59.25 and Guitar Center Inc. slipped 1.1 percent to $48.66.