Wednesday midday stocks rise

Dow now at 12,249, up 22 points.

NEW YORK (AP) — Strong earnings results and another round of corporate deals led stocks higher Wednesday.
Family Dollar rose 22 percent after investor Nelson Peltz’s firm offered to pay up to $60 a share to take the discount retailer private. That was a 36 percent premium from Tuesday’s closing price. Family Dollar rose the most of any stock in the Standard & Poor’s 500 index.
Genzyme rose nearly 2 percent after French drug maker Sanofi-Aventis agreed to buy the U.S. biotechnology firm for $20 billion in cash. The deal ended months of haggling between the two companies.
Dell Inc. rose 10 percent a day after the personal computer maker raised its revenue forecast for the fiscal current year, a sign that businesses are spending more on computers, servers and other technology.
Abercrombie & Fitch Co. rose 6 percent after the teen clothing maker said its fourth-quarter net income nearly doubled on strong sales overseas and better U.S. results.
Comcast Corp. also reported earnings that surpassed analysts’ expectations. Its stock rose 3 percent after more customers signed up for a combination of TV, high-speed Internet access and digital phone services.

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