Apr 27, 2012, 11.20 AM IST | Source: Reuters

Housing, profits lift Wall St, Amazon up late

MARKETS-USA-STOCKS:Housing, profits lift Wall St, Amazon up late

Housing, profits lift Wall St, Amazon up late

By Caroline Valetkevitch

NEW YORK (Reuters) - U.S. stocks rose for a third day on Thursday after upbeat housing data and stronger-than-expected results from companies, including Citrix Systems Inc , overshadowed some high-profile earnings misses.

An index of pending home sales rose to nearly a two-year high in March, sending the Philadelphia Stock Exchange index of housing-related shares <.HGX> up 3 percent. Shares of homebuilder Lennar climbed 5.7 percent to $27.38.

The stock of PulteGroup Inc , the No. 2 U.S. homebuilder, soared 10.1 percent to $9.58 after it reported a narrower-than-expected loss and its biggest increase in new orders in seven years.

After the closing bell, shares of dividend would rise another 9 cents per share.

Volume was 6.7 billion shares on the New York Stock Exchange, the Nasdaq and the NYSE Amex, compared with the daily average this year of 6.77 billion.

Advancers outpaced decliners by a ratio of more than 2 to 1 on the NYSE and by about 5 to 3 on the Nasdaq.

(Editing by Jan Paschal)


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