U.S. stocks gains on M&A news, healthcare rally; Dow rises 0.64%

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Investing.com - U.S. stocks shot up on Monday after investors applauded mergers and acquisitions announcements in a session that also saw heavy demand for healthcare stocks due to bullish regulatory news.

At the close of U.S. trading, the Dow Jones Industrial Average rose 0.64%, the S&P 500 index rose 0.62%, while the Nasdaq Composite index rose 0.69%.

A flurry of mergers and acquisitions announcements sent stocks rising.


RF Micro Devices agreed to acquire TriQuint Semiconductor, while Men's Wearhouse hiked a cash tender offer for Jos. A. Bank Clothiers.

Meanwhile, Washington regulators are reportedly proposing cuts to Medicare rates that are less than many were expecting, which sent healthcare stocks climbing, insurance providers especially.

Insurers have been expecting reimbursement cuts of around 7% though talk of a proposed 4% figure helped fuel Monday's rally.

Elsewhere, eBay shares rose after noted investor Carl Icahn urged the online retailer to spin off its payment unit Pay-Pal.

Leading Dow Jones Industrial Average performers included UnitedHealth, up 2.97%, Nike, up 1.78%, and Pfizer, up 1.70%.

The Dow Jones Industrial Average's worst performers included Verizon, down 1.58%, AT&T, down 0.99%, and Microsoft, down 0.75%.

European indices, meanwhile, finished higher.

After the close of European trade, the EURO STOXX 50 rose 0.62%, France's CAC 40 rose 0.87%, while Germany's DAX 30 rose 0.54%. Meanwhile, in the U.K. the FTSE 100 rose 0.41%.

On Tuesday, the U.S. is to release data on consumer confidence and a private sector report on house price inflation.

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This article appears in: Investing , Forex and Currencies

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