Stocks Build on Early Gains in Midday Trading, Nasdaq Moves Further into Record Territory

Stocks were climbing at midday on Tuesday, and the Nasdaq moved further into record territory.
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Stocks traded mostly higher at midday on Tuesday, with the major averages building on early gains. The Nasdaq traded above its record high. Shares of Chipotle (CMG) - Get Report  moved higher after it reported same-store sales improved in the fourth quarter, as it continues to recover from a food safety scandal last year. The company also authorized a 100 million share buyback. Canadian firm Gildan Activewear (GIL) - Get Report has won the auction to acquire the American Apparel brand and some assets. The company paid $88 million in cash for those assets, but it won't be buying any retail stores. Biotech company Sarepta Therapeutics (SRPT) - Get Report  advanced after the company released sales numbers for its new drug to treat a type of muscular dystrophy. The results were higher than analyst expectations.