Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average rose Monday. The blue-chip index last week posted gains for the sixth straight week.
- Clorox Co. (CLX) rose 5.7% after it posted stronger-than-expected fiscal second-quarter earnings and confirmed its full-year profit outlook.
- Papa John's International Inc. (PZZA) soared 9% after Starboard Value LP said it would make a $200 million investment in the troubled pizza chain and the investment firm's CEO, Jeffrey Smith, will become chairman.
Wall Street Overview
Stocks traded higher on Monday, Feb. 4, as investors focused on stronger-than-expected jobs and manufacturing data from the United States last week and another rush of corporate earnings this week.
The Dow Jones Industrial Average rose 175 points, or 0.7%, to 25,239, the S&P 500 was up 0.68%, and the Nasdaq rose 1.15%.
The Labor Department reported Friday that nonfarm payrolls in the U.S. rose by a better-than-forecast 304,000 jobs in January, while the Institute for Supply Management's index on manufacturing rebounded last month from December.
Earnings again will take center stage this week as the mid-point of the fourth-quarter earnings season is reached with results modestly ahead of expectations in terms of bottom-line performance for S&P 500 companies.
Google parent Alphabet Inc. (GOOGL) is the highlight Monday. The search giant reports earnings after the closing bell.
Clorox Co. (CLX) posted stronger-than-expected fiscal second-quarter earnings and confirmed its full-year profit outlook but noted that trade tariffs will hit its bottom line. The stock rose 5.7%.
Papa John's International Inc. (PZZA) said Starboard Value LP will make a $200 million investment in the troubled pizza chain and the investment firm's CEO, Jeffrey Smith, will become chairman.
The deal was first reported by The Wall Street Journal.
Papa John's shares jumped 9% to $41.97.
No dollar value was given for the deal in the report. Bristol-Myers 1.9%.
Ultimate Software Group Inc. (ULTI) agreed to terms to sell the human resource software company for about $11 billion to a group of investors led by private-equity firm Hellman & Friedman.
Hellman & Friedman will pay $331.50 in cash for each Ultimate Software share, a 32% premium to the 30-day average for the stock and 19.3% higher than its Friday closing level of $277.83. The group will de-list from the Nasdaq following the close of the deal, but will continue to be led by CEO Scott Scherr.
Ultimate Software rose 19.7% to $332.54.
Telsla will pay $4.75 for each Maxwell share, a 54.7% premium to its closing price Friday of $3.07, and bring the company into the corporate fold as a wholly owned subsidiary.
Maxwell rose 49.5% to $4.59, while Tesla rose 0.22% to $312.89.
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