LOS ANGELES -- Australian stocks reversed a lower open and moved into positive territory in early action, with the S&P/ASX 200 index gaining 0.2% to 4,550.0. Energy names pulled higher, with Woodside Petroluem Ltd. up 1.2%, and Origin Energy Ltd. adding 1.1%. News Corp. , the owner of MarketWatch, also enjoyed an early advance, up 2.3%, after it reported its fiscal first-quarter income rose 11%, helped by international box office proceeds from the film "Ice Age: Dawn Of the Dinosaurs" and higher fees at its cable channels.

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