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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/stocks-rise-after-earnings-reports.jpg"><img class="alignnone size-full" title="The Dow Jones industrials rose 61.53 to close at 12,288.17" src="http://londonglossy.com/wp-content/uploads/2011/02/min-stocks-rise-after-earnings-reports.jpg" alt="The Dow Jones industrials rose 61.53 to close at 12,288.17"/></a></p>
<p>Strong earnings results and another round of corporate deals have pushed stocks higher.</p>
<p>The Commerce Department reported that new home construction rose in January by the largest amount in 20 months. The pace of construction is still way off from levels seen in a healthy economy, but analysts were optimistic about the report.</p>
<p>The Labour Department also reported that wholesale prices rose sharply in January due to higher costs for gas and other goods. The Federal Reserve reported separately that factories produced more goods for the fifth straight month in January, although overall industrial production fell.</p>
<p>In corporate news, Family Dollar Stores rose 21% to 53.25 dollars after investor Nelson Peltz&#8217;s firm offered to pay up to 60 dollars a share to take the discount retailer private. That was a 36% premium from Tuesday&#8217;s closing price. Family Dollar rose the most of any stock in the Standard &#038; Poor&#8217;s 500 index.</p>
<p>Genzyme rose 1.1% after French drug maker Sanofi-Aventis agreed to buy the US biotechnology firm for 20 billion dollars in cash. The deal ended months of haggling between the two companies. Meanwhile, Dell rose 12% a day after the personal computer maker raised its full-year revenue forecast, a sign that businesses are spending more on technology.</p>
<p>Abercrombie &#038; Fitch rose 7.6% after the clothing maker said its fourth-quarter net income nearly doubled on strong sales overseas and better US results.</p>
<p>Comcast also reported earnings that surpassed analysts&#8217; expectations. Its stock rose 4% after more customers signed up for a combination of TV, high-speed internet access and digital phone services.</p>
<p>Deere &#038; Co rose 2.4% after the equipment maker said its net income more than doubled, thanks to growing sales of large farm machinery in the US and Canada.</p>
<p>The Dow Jones industrial average rose 61.53, or 0.5%, to close at 12,288.17, its highest close since June 13 2008. The S&#038;P 500 rose 8.31, or 0.6%, to 1,336.32. The Nasdaq composite index rose 21.21, or 0.8%, to 2,825.56</p>
<p>Three stocks rose for every one that fell on the New York Stock Exchange. Volume was 930 million shares.</p>
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