Midday Report: SABMiller Fends Off Takeover; Stocks Rise

Stocks were slightly higher in midday trading Friday, though struggled to hold onto significant gains. One company weighing on the S&P 500 was Gap (GPS) which fell after reporting a 1% decline in same-store sales in September, driven by a 10% slump in sales at its Banana Republic chain. The company said a stronger U.S. dollar had made for a 'challenging' month. SABMiller (SBMRY) is playing defense after Anheuser-Busch (BUD) criticized its rejection of a takeover. The U.K. beer company has increased its annual cost savings target by another $550 million to appease shareholders pushing to reconsider Anheuser's offer. United Continental (UAL) spiked after upping its profit margin projections for its recently-ended third quarter.