US stocks open higher on corporate deals

AP News
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Posted: Oct 06, 2014 9:40 AM

NEW YORK (AP) — U.S. stocks are opening higher as investors welcome the latest batch of corporate deal news.

Hewlett-Packard rose 5 percent after the big technology company agreed to split in two companies.

Medical equipment maker Becton, Dickinson and rival CareFusion both soared after the companies agreed to combine in a $12.2 billion deal.

The Dow Jones industrial average rose 72 points, or 0.4 percent, to 17,08 in the first few minutes of trading Monday. The Dow soared 208 points on Friday on a pickup in hiring by U.S. employers last month.

The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,975. The Nasdaq composite rose 13 points, or 0.3 percent, to 4,488.

Bond prices were steady. The yield on the 10-year Treasury note held at 2.44 percent.