Technology companies drive up stocks, led by Intel

[January 25, 2011]  NEW YORK (AP) -- Technology stocks are rising after Intel Corp. increased its dividend and said it would buy back more of its stock. The company is up 1.5 percent.

J.C. Penny Co. jumped 7 percent after the retailer said it would close some stores and exit its catalog business to reduce costs.

American Express Co., CSX Corp. and Texas Instruments Inc. are scheduled to release results after the market closes.

The Dow Jones industrial average rose 78 points, or 0.7 percent, to 11,950 in midday trading. The S&P 500 gained 6, or 0.4 percent, to 1,289. The Nasdaq composite index rose 20, or 0.8 percent, to 2,710.

[Associated Press; By CHIP CUTTER and DAVID K. RANDALL]

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