Several stocks were moving on corporate news in early trading Wednesday.
Ralph Lauren jumped 13 percent after the company named a new CEO to replace the company's founder. The stock is still down sharply for the year.
Chesapeake Energy rose 3 percent after announcing that it would cut 15 percent of its workforce.
The Dow Jones industrial average gained 227 points, or 1.4 percent, to 16,275 as of 9:35 a.m. Eastern time.