U.S. Stocks Gain, Led by Energy Shares on Halliburton Earnings.
Halliburton jumped $1.59 to $19.85. Excluding an acquisition charge and $693 million in costs related to redemption of convertible bonds, per-share profit was 76 cents, 2 cents higher than the average of 24 analyst estimates compiled by Bloomberg.
``Whenever somebody reports numbers that exceed expectations, that's a positive not only for the individual stock but the broader market,'' said Dean Gulis, who helps manage about $2.5 billion for Loomis Sayles & Co. in Bloomfield Hills, Michigan. ``In a case like Halliburton, it carries over to its sector. You have a good number of attractively valued opportunities out there.''
Exxon gained $4.79 to $72.83. Crude oil for November delivery climbed as much as 5.8 percent to $76 a barrel in New York on speculation OPEC will cut production to halt a 50 percent slide in prices from July's record.