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Wall Street gains as earnings flow in; Boeing up

Published on NewsOK Modified: January 9, 2013 at 3:55 pm •  Published: January 9, 2013

Boeing was the biggest gainer of the 30 stocks in the Dow. It jumped 3.5 percent, up $2.63 to $76.76, following two days of sharp declines triggered by new problems for its 787 Dreamliner. Boeing said it has "extreme confidence" in the plane even as federal investigators try to determine the cause of a fire Monday aboard an empty Japan Airlines plane in Boston and a fuel leak at another JAL 787 on Tuesday.

The yield on the 10-year Treasury note edged down to 1.86 percent from 1.87 percent.

Among other stocks making big moves:

— Wireless network operator Clearwire jumped 7.2 percent, or 21 cents, to $3.13, after Dish network made an unsolicited offer to buy the company, which has already agreed to sell itself to Sprint. Dish rose 88 cents to $36.85, and Sprint fell 9 cents to $5.88.

— Online education company Apollo Group plunged 7.8 percent after reporting a sharp decline in fall-term student sign-ups at the University of Phoenix. The stock fell $1.63 to $19.32.

— Seagate Technology, a maker of hard-disk drives, jumped 6.6 percent, up $2.09 to $33.48, after predicting revenue for its fiscal second quarter that topped Wall Street expectations late Tuesday.

— Bank of America fell 4.6 percent, down 55 cents to $11.43, after Credit Suisse analysts lowered their outlook on the bank to "neutral" for "outperform," saying the current stock price overestimates the improvement in cost reduction that the bank can achieve this year.