– National
Stocks rallied higher Wednesday after oil futures fell by more than $1 a barrel and Dow Jones Industrial Boeing Co. said its earnings had more than doubled.
The Dow Jones Industrial Average rose 89.09, or 0.8 percent, to 10,953.95. The S & P; 500 edged up 2.38, or 0.2 percent, to 1,282.46. The Nasdaq Composite Index gained 4.74, or 0.2 percent, to 2,310.56.
*
Read the full Associated Press story
.
– Local
Local movers were led by Guitar Center Inc., which gained 3.1 percent to $55.36, and Guess Inc., which rose by 3.9 percent to $44.10. On the down side, Occidental Petroleum Corp. slipped 3.8 percent to $93.96 and KB Home fell 2.9 percent to $73.96.
Shares of Molina Healthcare Inc. jumped 13 percent to $29.91 after the Long Beach-based managed care organization announced late Tuesday preliminary fourth-quarter earnings well above Wall Street expectations. The company expects earnings of 35 cents to 39 cents per share, beating the average estimate of 21 cents per share.
Amgen Inc. rose 4.5 percent to $76.19 after Roche Holding AG of Switzerland delayed a plan to submit its anemia drug for U.S. regulatory approval. Roche’s entry would be the rival drug to the Thousand Oaks-based biotech company’s top-selling anemia therapy Aranesp.
Kilroy Realty Corp. climbed 1.7 percent to $68.76 after the L.A.-based real estate investment trust’s stock rating was raised to “buy” from “hold” by Deutsche Bank. The price target was set at $75 per share.
