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.
S&P 500 Earnings Ahead of Estimates but 2019 Profit Growth Set to Slow SharplyGoogle parent Alphabet Inc. (GOOGL) is the highlight Monday. The search giant reports earnings after the closing bell.
Google Reports Earnings on Monday: 5 Important Things to WatchAlphabet is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells GOOGL? Learn more now.
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%.
Clorox Tops Q2 Earnings Estimate, Confirms 2019 OutlookPapa 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.
Papa John's Gets Lifeline From Starboard ValueStarboard Value, meanwhile, also reportedly snapped up a stake in pharmaceutical giant Bristol-Myers Squibb Co. (BMY) , according to Bloomberg.
No dollar value was given for the deal in the report. Bristol-Myers 1.9%.
Bristol-Myers Jumps on Report That Starboard Value Takes Stake in CompanyUltimate 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.
Tesla Inc. (TSLA) said Monday it will buy Maxwell Technologies Inc. (MXWL) , a battery technology firm based in San Diego, for around $218 million.
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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