* Energy shares up with oil as European flights resume
* Goldman posts robust profit, but shares fall
* J&J, IBM and Coca-Cola also announce quarterly results
* Dow up 0.2 pct; S&P up 0.7 pct; Nasdaq up 0.7 pct
* For up-to-the-minute market news see []
(Updates to late afternoon, changes byline)
By Leah Schnurr
NEW YORK, April 20 (Reuters) - U.S. stocks rose on Tuesday
as energy shares advanced on higher oil prices and bellwether
companies reported quarterly results, although some fell short
of heightened expectations.
Goldman Sachs <GS.N> posted earnings that surged past
expectations, but its stock slipped 1.8 percent to $160.46
after British regulators launched a probe into alleged fraud by
the company. The move follows similar charges in the United
States. For details, see [].
More than three stocks rose for every one that fell on the
New York Stock Exchange, while on the Nasdaq, two stocks rose
for every decliner.
Energy shares led the upside as oil rebounded from
three-week lows as European airports reopened after the threat
from Iceland's volcanic ash cloud receded. Crude <CLc1> was up
more than 2 percent at $83.56 a barrel and the S&P energy index
<.GSPE> rose 1.9 percent.
"What we're seeing is a lot of the sectors that were sold
off late last week have found a little support and are
rebounding here," said Richard Sparks, senior equities analyst
at Schaeffer's Investment Research, in Cincinnati, Ohio.
While some of the big names that reported results were not
among the day's gainers, analysts said the broad market
benefited from the view that earnings are showing the economy
is recovering.
"All in all it has been a pretty good earnings season,"
said Sparks. "Some of the reactions were a little bit negative.
IBM is a good example of that, where you had a report that was
half-way decent but the stock got sold off a bit."
International Business Machines Corp <IBM.N> late Monday
posted better-than-expected profits but disappointing gross
margins. The stock eased 1.7 percent to $130.04 and was the top
weight on the Dow, followed by Coke, which fell 1.6 percent to
$54.41. []
The Dow Jones industrial average <> added 25.62 points,
or 0.23 percent, to 11,117.67. The Standard & Poor's 500 Index
<.SPX> gained 8.44 points, or 0.70 percent, to 1,205.96. The
Nasdaq Composite Index <> rose 16.82 points, or 0.68
percent, to 2,496.93.
Coca-Cola <KO.N> reported mixed results, Johnson & Johnson
<JNJ.N> topped quarterly forecasts but trimmed its full-year
profit forecast and UnitedHealth Group <UNH.N> soared past
estimates.
Johnson & Johnson slipped 0.2 percent to $65.93 and
UnitedHealth was off 0.7 percent to $31.01.
Apple Inc <AAPL.O> and Yahoo Inc <YHOO.O> are both due to
report results after the closing bell. Apple shares were down
0.9 percent to $244.80 and Yahoo dipped 0.2 percent to $18.35.
(Editing by Kenneth Barry)
