Midday Report: Kinder Morgan Spikes on Buffett Stake; U.S. Stocks Jump

U.S. stocks were on track for their first three-day winning streak of the year on Wednesday as hopes Iran would agree to a production cap boosted crude oil. Fossil (FOSL) rose after besting estimates on its top- and bottom-line. However, revenue did fall just over 6% from a year earlier as a stronger U.S. dollar ate into the retailer's overseas sales. Priceline (PCLN) was enjoying its best day in more than three years after breezing past fourth-quarter earnings estimates. Travel bookings jumped 10%, or 25% excluding currency exchange. Kinder Morgan (KMI) spiked after Warren Buffett's Berkshire Hathaway (BRK.A) disclosed a new stake totaling 26.5 million shares. This comes at a time of intense pressure for the oil producer. Shares have more than halved in the past year alongside falling oil prices.