Stocks fluctuate near records on stimulus, earnings bets

U.S. stocks fluctuated, after the longest streak of weekly gains since February, as investors awaited retailer earnings reports to gauge the strength of consumer demand and the likelihood of cuts to monetary stimulus.

Transocean Ltd. added 3.4 percent after the offshore rig contractor agreed with investor Carl Icahn to propose a $3 per share dividend. ViroPharma Inc. jumped 26 percent after Shire Plc. bought the company for about $4.2 billion. Best Buy Co. rose 2.7 percent to $43.78 as a UBS AG analyst upgraded the stock. ImmunoGen Inc. dropped 3.4 percent to $13.15 as Morgan Stanley cut its rating on the maker of cancer drugs.