Midday Report: Baird Backs J.C.Penney; Apple Boosts Dow, Nasdaq

U.S. stocks held near session highs as Apple (AAPL) - Get Report did heavy lifting for the Dow Jones Industrial Average and Nasdaq. The tech giant was up around three percent after Warren Buffett's Berkshire Hathaway (BRK.A) - Get Report disclosed a nearly $900 million stake. Homebuilder sentiment held steady in May, unchanged for the fourth month in a row as housing sector growth continued. The reading above 50 indicated improvement in the builder confidence. Tribune Publishing (TPUB) surged after Gannett (GCI) - Get Report increased its offer to $15 a share, 22 percent  higher than an initial bid. Tribune's board had rejected the previous offer. J.C.Penney (JCP) - Get Report climbed after Baird upgraded the stock to OUTPERFORM from NEUTRAL. Analysts said a recent 30 percent pullback from March levels made for an attractive valuation.