On The Fly: Top stock stories for Friday

Stocks were in rally mode amid headlines that Senators Marco Rubio and Bob Corker announced their support for the Republican tax bill, apparently leaving a reform bill on track to get to President Trump's desk some time next week. Republican negotiators said they will release the details when the full House convenes at 5:30 pm ET today, so more political headlines are certain to await investors when the market reopens on Monday morning. ECONOMIC EVENTS: In the U.S., industrial production rose 0.2%, which was a bit below expectations, with capacity rising to 77.1% in November. In energy news, Baker Hughes reported the U.S. rig count was down 1 rig from last week to 930. COMPANY NEWS: Shares of Oracle (ORCL) were 3.77% lower after the company reported quarterly results last night, with earnings per share and revenue beating consensus estimates but Cloud revenue growth falling short of expectations. Oracle, which also increased its share buyback authorization by $12B, also provided earnings and revenue guidance for the third quarter that were below consensus estimates... CSX Corporation (CSX) shares slid 7.64% after the company said that president and chief executive officer E. Hunter Harrison is on medical leave due to unexpected complications from a recent illness. The board named chief operating officer James Foote as acting CEO of the company... Disney (DIS) shares are in focus as the media giant's latest blockbuster film "Star Wars: The Last Jedi" hits theaters. "The Last Jedi," the third release in the "Star Wars" canon since Disney acquired the rights to the franchise, grossed $45M in Thursday night previews in North America, the second-biggest preview total in North American box office history, according to Deadline Hollywood. 2015's "Star Wars: The Force Awakens" currently has the all-time preview record with $57M. MAJOR MOVERS: Among the noteworthy gainers was Under Armour (UAA), which rose 9.77% after Stifel analyst Jim Duffy upgraded the stock to Buy from Hold. Also higher after reporting quarterly earnings were Costco (COST) and Adobe (ADBE), which gained 3.32% and 1.43%, respectively. Among the notable losers was Fitbit (FIT), which fell 8.5% after Stifel analyst Jim Duffy downgraded the stock to Sell from Hold, saying he expects the company to remain unprofitable and burn cash in 2018. Also lower was SiriusXM (SIRI), which slipped 2.68% after the Copyright Royalty Board issued a determination requiring the company to pay a royalty of 15.5% of gross revenues for the five-year period starting January 1, 2018 and ending on December 31, 2022. INDEXES: The Dow rose 143.08, or 0.58%, to 24,651.74, the Nasdaq gained 80.06, or 1.17%, to 6,936.58, and the S&P 500 advanced 23.80, or 0.9%, to 2,675.81.