LITTLE ROCK, Ark. (KTHV) -- Stocks ended slightly higher a day after suffering its biggest loss in more than seven months.
The Dow suffering 326-point drop on Monday prompted by disappointing news about U.S. manufacturing.
On Tuesday, stocks were helped by strong earnings from fashion retailer Michael Kors and Yum Brands, which owns KFC.
The food company reported better-than-expected earnings and indicated that it remains confident about its earnings forecast for the year.
A high bid to buy bankrupt Allens Inc.
In New York, a newly formed entity called Sager Creek Acquisition Corp. was the high bidder Monday in an auction to buy Allens Inc. of Siloam Springs.
The corporation, formed last month, bid $160 million for the 87-year-old family-owned vegetable processor, which filed Chapter 11 bankruptcy in October.
As of late Tuesday, it was unclear who owns Sager Creek.
The sale of Allens still requires Barry's approval. The court is scheduled to review the deal on Monday.
Seneca Foods Corp. of Marion, N.Y., was the "stalking-horse" bidder in the auction, pledging to bid $148 million for Allens.
Seneca had the right to match or exceed any other bids for Allens.
Truck companies call off bidding war
Two trucking companies have called off a battle they've waged since September.
Knight Transportation Inc. of Phoenix announced late Tuesday that it has ended its $242 million takeover bid for USA Truck Inc. of Van Buren.
And USA Truck said it is ending its breach of contract lawsuit against Knight, which it filed after Knight launched its takeover attempt last fall.
Under the terms of the settlement, both companies will file a joint stipulation to dismiss USA Truck's lawsuit "with prejudice."
In return, Knight pledged not to increase its stake in USA Truck, attempt to buy the company or seek representation on the USA Truck's board.
The company also said it will not vote the USA Truck shares it owns at USA Truck's shareholder meeting this year.