U.S. stocks rose on Thursday after better-than-expected earnings from Hewlett-Packard Co. and Applied Materials Inc. renewed optimism about the technology sector and retailer J.C. Penney Co. Inc. reported strong financial results. Shares of Hewlett-Packard, the world's No. 2 computer maker and a Dow component, rose 4.8 percent to $33.18, nearing a 5-year high. Shares of Applied Materials, a supplier of chip-making equipment, gained about 1.6 percent to $20.81 on Nasdaq. J.C. Penney Co. reported earnings above analysts' estimates. The retailer gave a positive outlook and said it would increase its dividend and buy back stock, sending its shares up 3.5 percent to $58.50. ID:nN16413042 "J.C. Penney's numbers were great," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co. "The earnings numbers have been solid. We're seeing solid revenues." The Dow Jones industrial average was up 10.01 points, or 0.09 percent, at 11,068.98. The Standard & Poor's 500 Index was up 1.96 points, or 0.15 percent, at 1,281.96. And the Nasdaq Composite Index was up 7.95 points, or 0.35 percent, at 2,284.38. --More 22 56 Local Time 19 56 GMT
