Midday Report: Valeant Adds Pershing Chair to Board; U.S. Stocks Rise

U.S. stocks moved higher as crude oil enjoyed a big bounce. Oil rose after the latest read on U.S. stockpiles showed a less-than-feared increase last week. General Mills (GIS) was slightly higher after raising its quarterly dividend by two cents to $0.46 cents a share. The company also appointed Kimberly-Clark's chief financial officer, Maria Henry, to its board. Pfizer (PFE) rose after launching a $5 billion accelerated share repurchase program with Goldman Sachs. The drug maker said 136 million of the shares will be received on Thursday. Valeant Pharmaceuticals (VRX) climbed after adding three new directors to its board, including Pershing Square vice chairman Stephen Fraidin. TheStreet's Keris Lahiff reports from Wall Street.