U.S. shares looked set to break the five-day losing streak today, as investors looked past softer economic reports and a continued rout in China’s stock market. The S&P 500 (INDEXSP:.INX) rose 0.5 percent to 2,078.79 at 11:25 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) added 0.5 percent to 17,521.37, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) added 0.2 percent to 5,051.73. Most followed shares included Merck, Pfizer, Regeneron Pharmaceuticals, DuPont, UPS, Baidu, eBay, Ford, DR Horton, PayPal, and Reynolds American.
In health care shares, Merck (NYSE:MRK) fluctuated between gains and losses. The drugmaker reported a better-than-expected second-quarter profit and lifted its full-year earnings guidance as demand for its diabetes and cancer drugs increased. But sales fell a worse-than-expected 11 percent in the second quarter, hurt by currency changes and recent divestitures.
Pfizer (NYSE:PFE) rose 1.6 percent to $34.89. The biopharmaceutical company lifted its full-year outlook as its new treatments continued to drive growth in the second quarter.
Regeneron Pharmaceuticals (NASDAQ:REGN) climbed 1.8 percent to $549.54 after Sanofi agreed to contribute $2.2 billion to work with the company on therapies that harness the immune system to fight cancer.
In industrials, DuPont (NYSE:DD) slid 0.3 percent to $56.58. The chemical and crop company lowered its forecast for the year after a stronger dollar and a sales drop in its agriculture segment affected results. It also cut its quarterly dividend. The Wilmington, Delaware-based company said it expects its full-year operating earnings of about $3.10 per share. The company in April had forecast earnings at the low end of the $4.00-$4.20 range for the period.
United Parcel Service (NYSE:UPS) added 4.5 percent to $99.36 after quarterly profit exceeded analysts’ estimates as the world’s largest package-delivery company benefited from a new pricing system.
In technology stocks, ADRs of Baidu (NASDAQ:BIDU) slumped 17 percent to $166.19 after China's biggest Internet search company's quarterly profit missed estimates as revenue growth was mostly offset by its higher expenses.
eBay (NASDAQ:EBAY) fell 0.1 percent to $27.99, reversing an earlier gain. The e-commerce company said it’s ending its eBay Now one-hour delivery service, in the U.S.
In consumer shares, Ford (NYSE:F) rose 1.8 percent to $14.81 after the automaker's second-quarter earnings widely beat Wall Street expectations, based on the continued strength of its North American sales. Revenue slightly missed Wall Street estimates, but its overall automotive profit was its best quarterly performance since 2000.
DR Horton (NYSE:DHI) gained 1.8 percent to $27.23. The homebuilder earned $0.60 per share for its latest quarter, $0.10 above estimates. Revenue also beat forecasts as orders rose 22 percent from a year earlier.
Reynolds American (NYSE:RAI) sank 3.8 percent to $82.19. The tobacco producer saw its earnings come in $0.05 above estimates with adjusted quarterly profit of $1.02 per share. Revenue was slightly below forecasts, but the rest of its news was bullish as Reynolds increased its quarterly dividend, upped its yearly earnings forecast, and declared a two-for-one stock split.
In other stocks, PayPal Holdings (NASDAQ:PYPL) gained 2.3 percent to $37.23 after Jefferies Group recommended buying the stock.