Stocks Finish Higher After Reports of Greek Debt Deal

London's FTSE finished 0.03% lower, and Germany's DAX closed down 0.16%. In Asia, Japan's Nikkei Average closed down 0.13%, while Hong Kong's Hang Seng index finished lower by 0.05%.

In corporate news, Coca-Cola reported better-than-expected results for the fourth quarter Tuesday as the international beverage giant continued to expand international sales volume. The world's largest soft-drinks maker reported earnings of 79 cents a share on revenue of $11.04 billion as the company increased volume to China by 10% in the fourth quarter. The company was expected to earn 77 cents a share on revenue of $10.99 billion, according to Thomson Reuters. Coca-Cola shares rose 0.8% to $68.55.

BP(BP), the oil giant, said fourth-quarter profit rose 38% to $7.69 billion on higher oil prices and it raised its quarterly dividend by 14%. Replacement cost profit jumped 65% to $7.6 billion. Revenue rose 15% to $96.3 billion. BP goes to court at the end of the month in New Orleans for the beginning of lawsuits related to the Gulf of Mexico oil spill in April 2010. Shares were off 0.6% to $46.60.

UBS(UBS), the Swiss bank, posted a 76% decrease in fourth-quarter earnings. UBS said profit in the quarter was 393 million Swiss francs ($425 million). Analysts were expecting earnings of 658 million francs. UBS' investing bank division reported a second consecutive quarterly pretax loss of 256 million francs, which included a $2 billion rogue trader loss. Shares finished down 0.7% to $14.27.

Toyota(TM), Japan's top automaker, lifted its annual earnings forecast after reporting a quarterly profit decline of 13.5% because of production shortages from last year's earthquake and tsunami. Toyota raised its annual profit forecast to 200 billion yen ($2.6 billion) from 180 billion yen a year earlier, but the new guidance is barely half of what Toyota earned -- 408 billion yen -- in the previous fiscal year. Cost cuts were behind the raised guidance, Toyota said. Shares added 2.4% to $79.61.

Yum! Brands(YUM), the quick-service restaurant operator, beat analysts' fourth-quarter earnings expectations on strong sales growth in China. Yum!, whose restaurant brands include KFC, Taco Bell and Pizza Hut, also said it expects to meet or exceed its target for earnings per share growth of at least 10% in 2012. Shares gained 2.6% to $64.85.

Coinstar(CSTR) solidly topped analysts' views for fourth-quarter earnings and reached a deal to acquire NCR's(NCR) entertainment business, which includes DVD kiosks and inventory, among other assets. Earlier Monday, Coinstar announced a streaming content joint venture with Verizon. Coinstar shares surged 14% to $57.53, while NCR shares were jumping 8.5% to $20.65. Verizon closed down 0.2% to $37.92.

In other corporate news, Xstrata and Glencore plan to merge, creating a metals and mining giant worth roughly $90 billion and with the capability to produce and trade natural resources in five continents.

March oil futures finished up $1.50 to $98.41 a barrel, while April gold futures rose $23.50 to $1,748.40 an ounce, helped by a stronger euro and weaker dollar, and shaking off a two day decline that had left the metal down 2%.

The benchmark 10-year Treasury was falling 17/32, raising the yield to 1.972%, while the U.S. dollar index was falling 0.7% to $78.55.

No major U.S. economic announcements were expected on Tuesday.

-- Written by Andrea Tse and Chao Deng in New York.

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