Clear Channel Communications Inc. was the biggest gainer on the Standard & Poor's 500 index after the radio and outdoor advertising company posted higher first-quarter earnings, sending the index higher at midday Monday.
The S&P 500 gained 6.60 points to 1,394.95.
Shares of Clear Channel added $2.94, or 9.8 percent, to $32.93, after the company reported a first-quarter profit of $1.61 per share including asset sales late Friday. The company is fighting its lenders to go private and said it is not sure when the $19.5 billion deal will close.
Shares of bond insurer MBIA Inc. climbed 72 cents, or 7.6 percent, to $10.15 despite swinging to a $2.41 billion first-quarter loss.
Shares of oil refiner Tesoro Corp. gained $1.31, or 6 percent, to $22.27 as oil prices eased on the New York Mercantile Exchange on Monday.
Among the decliners, Yahoo Inc. fell 75 cents, or 2.9 percent, to $25.17.
Citizens Communications Co. shed 30 cents, or 2.8 percent, to $10.36. On Friday, Standard & Poor's Ratings Services lowered its ratings on the telecommunications service provider to "BB+."
First Horizon National Corp. lost 26 cents, or 2.5 percent, to $10.01. Earlier in the session, the regional bank fell to a 52-week low of $9.94.
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