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Stocks Rise on GM Earnings, Deals in the Tech Sector


Stocks moved higher on Wednesday after better-than-expected earnings from General Motors (GM - Get Report) and Boeing (BA - Get Report) and on deals news in the tech sector.

The S&P 500 added 0.26%, the Dow Jones Industrial Average was up 0.24%, and the Nasdaq gained 0.47%.

Boeing rose more than 2% after beating earnings estimates and raising its full-year outlook. The airplane manufacturer earned $2.52 a share in the third quarter, above forecasts of $2.21. For fiscal 2015, Boeing expects revenue of $95 billion to $97 billion, up from previous guidance of $94.5 billion to $96.5 billion.

General Motors climbed 4% after topping quarterly estimates on its top- and bottom-lines. The automaker reported net income of $1.50 a share, 31 cents higher than forecasts, and revenue of $38.8 billion, $250 million better than expected. Sales slid 1.2%.

In other earnings news,Kimberly-Clark (KMB - Get Report) reported a better-than-expected quarter, despite a drop in sales tied to the stronger U.S. dollar. The manufacturer of personal hygiene products earned $1.51 a share, 2 cents above estimates, while revenue slid 7% to $4.72 billion. Organic sales rose 5%, led by gains in emerging and developing markets.

Coca-Cola (KO - Get Report) also reported a third quarter which bested analysts' forecasts. The beverage giant earned 51 cents a share, a penny above expectations. However, revenue of $11.4 billion was slightly short forecasts and dipped from a year earlier...