On The Fly: Top stock stories at midday

Stocks opened lower as investors were on watch for a timing announcement regarding the planned vote on the Trump administration's American Health Care Act bill. The wrangling is continuing as a time has still not been set and President Trump is tweeting as he continues to work to win enough support to see the Obamacare replacement plan pass the House. The market saw its lows a short time after the open and has crossed into positive ground, standing near session highs at midday. ECONOMIC EVENTS: In the U.S., initial jobless claims surged 15,000 to 258,000 last week after a 6,000 decline to 243,000 in the prior one. New home sales rose 6.1% to a 592,000 rate in February, which was better than expected. Gas inventories showed a 150 billion cubic feet draw versus consensus of a 153 billion cubic feet draw. In Europe, a Eurozone consumer confidence reading rose by 1.2 points to -5.0 in March, beating market expectations of a more modest rise to -5.7. COMPANY NEWS: Shares of PVH Corp. (PVH) have gained almost 9% near noon after the owner of the Calvin Klein brand reported better than expected fourth quarter results and guidance... Conversely, Ford (F) has dropped fractionally, well off its earlier lows, after the automaker said its profit will fall in the current quarter compared to the same period of last year due to higher costs, lower volume, and unfavorable foreign exchange movements... Meanwhile, Walt Disney (DIS) announced that it has extended Robert Iger's contract as Chairman and CEO of the company to July 2, 2019. Iger said he is "confident that Disney's best days are still ahead" and he plans to work with the Board to identify a successor as CEO and "ensure a successful transition." MAJOR MOVERS: Among the notable gainers was FireEye (FEYE), which advanced over 8% after Goldman Sachs analyst Gabriela Borges double upgraded the stock to Buy as she sees an emerging path to growth. Also higher was Five Below (FIVE), which gained more than 12% after the company beat consensus expectations for the quarter. Additionally, On Deck Capital (ONDK) rose about 8% following a report by Reuters saying that Kabbage is seeking to raise funds to use for potential acquisitions and that it is considering the company as a possible target. Among the noteworthy losers was Proofpoint (PFPT), which slid over 5% Goldman Sachs' Borges downgraded the stock to Sell, citing the stock's premium valuation. Also lower was Accenture (ACN), which slipped about 3.5% after the company announced higher than expected second quarter earnings per share. INDEXES: Near midday, the Dow was up 71.80, or 0.35%, to 20,733.10, the Nasdaq was up 16.39, or 0.28%, to 5,838.03, and the S&P 500 was up 8.35, or 0.36%, to 2,356.80.