News Summary: Stocks up ahead of company earnings

By The Associated Press

The Associated Press

COMPANY EARNINGS: Cautious optimism about corporate earnings sent the stock market higher on Monday. U.S. companies start reporting their second-quarter results this week.

RUSSELL RECORD: The Russell 2000, an index of small companies closed at a record 1,009.25. The index has gained 18.8 percent this year as investors have become more comfortable buying riskier stocks. Gains for the index have outpaced those for the Dow Jones industrial average and the Standard & Poor's 500 index.

ONLINE BOOKINGS: Priceline rose $33.47, or 3.9 percent, to $888.60 after investment bank Morgan Stanley raised its price target for the online bookings company. Analysts at the bank believe that Priceline can climb as high as $1,010 as it continues to grow internationally and worries about shrinking profits dissipate.

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