U.S. Stocks Rise on Earnings as Dell Agrees to Be Bought

Bloomberg, (5/2) - U.S. stocks advanced, rebounding from the biggest loss of the year for benchmark indexes, as earnings topped forecasts and Dell Inc. agreed to be taken private in the largest leveraged buyout since the financial crisis.


The Standard & Poor’s 500 Index rose 1 percent to 1,511.24 at 4 p.m. in New York. The benchmark equity index sank 1.2 percent yesterday amid concern that the European debt crisis may intensify as Spanish Premier Mariano Rajoy faced opposition calls to resign and Deutsche Bank AG said this year’s rally in Italian and Spanish bonds may falter.

About 74 percent of the 282 companies from the gauge that have released results so far in the reporting season have exceeded profit projections, and 66 percent have beaten sales estimates, according to data compiled by Bloomberg.

The Institute for Supply Management’s index of U.S. non- manufacturing businesses, which covers about 90 percent of the economy, fell to 55.2 in January from the prior month’s 55.7, the Tempe, Arizona-based group said today. The median forecast of 76 economists surveyed by Bloomberg projected 55. Readings above 50 signal expansion.
http://www.bloomberg.com/news/2013-02-05/u-s-stock-index-futures-climb-virgin-media-jumps.html