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U.S. Stocks Open Higher; H-P Boosts Dow -2-

02/22/2013 | 06:56am US/Eastern

Intuit Inc.'s (>> Intuit Inc.) fiscal second-quarter profit dipped 40% as the delay in the beginning of the U.S. tax season reduced revenue for its core tax-preparation business, which was partly offset by strong adoption of its online financial services.

H.J. Heinz Co.'s (>> H.J. Heinz Company) fiscal third-quarter earnings slipped 5.3% as the ketchup maker recorded a larger loss from from discontinued operations, though organic sales continued to improve in emerging markets.

Microsoft Corp. (>> Microsoft Corporation) and Nikon Corp. (>> NIKON CORPORATION) have signed a patent licensing agreement that covers certain Nikon cameras running Google Inc.'s (>> Google Inc) Android operating platform.

Mohawk Industries Inc.'s (>> Mohawk Industries, Inc.) fourth-quarter earnings rose 55% as the carpeting-and-flooring company saw revenue growth and wider margins. The company issued first-quarter guidance that missed analysts' expectations.

A Mondelez International Inc. (>> Mondelez International Inc) subsidiary is voluntarily recalling certain varieties of BelVita biscuits as they might contain fragments of metal mesh due to a faulty screen at a third-party facility.

Newmont Mining Corp. (>> Newmont Mining Corp) swung to a fourth-quarter profit as a large write-down weighed on the gold-mining company's year-ago results. Adjusted earnings topped analyst expectations.

Nordson Corp.'s (>> Nordson Corporation) fiscal first-quarter earnings rose 9.6% as the maker of dispensing equipment reported strong revenue growth with a boost from acquisitions last year.

Public Storage's (>> Public Storage) fourth-quarter profit rose 23% as the real-estate investment trust posted wider margins, although revenue missed analysts' expectations.

Regions Financial Corp.'s (>> Regions Financial Corporation) board has elected President and Chief Executive Grayson Hall to replace Earnest W. Deavenport Jr. as chairman, effective May 16.

Tenaris SA's (TS, TEN.MI) fourth-quarter earnings fell 10% as the Luxembourg-based steel-pipe manufacturer recorded impairment charges, masking wider margins.

Texas Instruments Inc. (>> Texas Instruments Incorporated) raised its quarterly dividend 33% and boosted its share buyback program by $5 billion as the chip maker looks to increase shareholder value.

Wausau Paper Corp. (>> Wausau Paper Corp.) said it will close its technical specialty paper mill in Brainerd, Minn., in the second quarter, as the paper-products company looks to focus on its tissue business.

Write to Nathalie Tadena at nathalie.tadena@dowjones.com

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