Stocks open higher after earnings, deal news

NEW YORK (AP) — Stocks are rising in early trading as investors weigh another round of earnings, corporate deal making and economic reports.

Abercrombie & Fitch Co., Deere & Co. and Comcast Corp. all reported better-than-expected earnings today. Their stocks rose more than 3 percent.

French drug maker Sanofi-Aventis also agreed to buy Genzyme in an all-cash deal that values the U.S. biotechnology company at $20.1 billion. The deal ends months of corporate haggling between the two companies.

In economic news, the Commerce Department reported that new home construction rose by the largest amount in 20 months.

At the opening, the Dow Jones industrial average is up 36, or 0.3 percent, at 12,263. The Standard & Poor’s 500 index is up 6, or 0.4 percent, at 1,333. The Nasdaq composite index is up 13, or 0.5 percent, at 2,818.