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US stocks up as Lockheed Martin seals Sikorsky deal

AFP

US stocks opened slightly higher Monday following solid earnings from Morgan Stanley and others and news that Lockheed Martin will buy Sikorsky Aircraft from United Technologies for $9 billion.

Five minutes into trade, the Dow Jones Industrial Average was at 18,096.66, up 10.21 points (0.06 percent).

The broad-based S&P 500 added 0.55 (0.03 percent) at 2,127.19, while the tech-rich Nasdaq Composite Index advanced 6.07 (0.12 percent) to 5,216.21.

Morgan Stanley vaulted 1.4 percent higher as second-quarter earnings of 79 cents per share bested analyst expectations by five cents behind robust merger and acquisition advising activity.

Lockheed Martin rose 0.5 percent and said the purchase of Sikorsky would add to its portfolio of aerospace and defense products. Dow member United Technologies dropped 0.6 percent.