Shares of Anadarko Petroleum Corp. rose to an all-time high Tuesday, posting the biggest gain on the Standard & Poor's 500 and supporting the index to a higher close.
The S&P rose 10.77 points to finish at 1,418.26.
Anadarko's adjusted first-quarter profit was greater than analysts expected, and the price of oil reached record highs on Tuesday. Anadarko stock gained $6.39, or 9.4 percent, to close at $74.53. During the session, shares reached an all-time high of $75.87.
Advanced Micro Devices Inc. shares rose 59 cents, or 9 percent, to $7.12. AMD said Monday that it filed a lawsuit against Intel Corp., and an American Technology Research analyst said the company may soon unveil a program that will contract much of the company's manufacturing to third parties.
Fannie Mae shares rose $2.52, or 8.9 percent, to $30.81 after the mortgage financing company said it will raise $6 billion in new capital.
On the negative side, investment manager Legg Mason Inc. posted a loss of $250 million in the fiscal fourth quarter. The stock fell $6.46, or 10.3 percent, to $56.30.
Hospital operator Tenet Healthcare Corp. posted a larger adjusted profit than analysts expected, but shares fell 46 cents, or 7.1 percent, to $6.01.
Sara Lee Corp. stock sank 90 cents, or 6.1 percent, to $13.86 after the household products maker's fiscal third-quarter profit missed analyst expectations.
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