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[video] Quick Take: Bank Earnings and Big Deals Heading Into Tuesday

NEW YORK (TheStreet) -- After a harsh selloff Monday, U.S. equities are rebounding Tuesday with the S&P 500, Dow Jones Industrial Average and Nasdaq all moving higher. TheStreet's Jonathan Marino details Tuesday's top headlines. 

JPMorgan (JPM) kicked off an important week of earnings reports for the financial sector. Amid circling legal issues and hefty fines, the institution was able to beat analysts expectations' on both the top and bottom lines.  

Wells Fargo (WFC) also reported earnings this morning. It too beat on the top and bottom lines, which is a good start for the sector. Bank of America (BAC) reports tomorrow morning, while Citigroup (C) and Goldman Sachs (GS) both report on Thursday morning. 

There was also some heavy M&A activity announcements on Monday, Marino said. 

Google (GOOG) announced the purchase of Nest Labs for $3.2 billion, while Time Warner Cable (TWC) rejected a $61 billion bid from Charter Communications (CHTR), he reported. 

Time Warner Cable has confirmed it would accept a $160 per share offer, in a combination of stock and cash. 

Finally, Marino had the Action Alerts PLUS co-portfolio manager Jim Cramer's top pick: Yum Brands (YUM)

Yum reported a 2% increase in Chinese comp sales. Cramer said it's a sign of a rebound for the company in the region and he is a buyer of the stock on weakness.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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