Stocks Opened Higher on Deal Making

U.S. stocks rose at the open on Monday as investors assess some major takeovers on a day in which there will be few significant earnings reports or economic indicators. The Dow Jones Industrial Average lately rose 98.45 points, or 0.61%, to 60 points to 16,201.75. The S&P 500
gained 10.79 points, or 0.59%, to 1,847.04. The Nasdaq Composite added 25.82 points, or 0.61%, to 4,289.23.

Men’s Wearhouse (MW) has increased its cash tender offer for all outstanding shares of Jos. A. Bank Clothiers, Inc. (JOSB) to $63.50 per share from $57.50 per share.

Netflix has agreed to pay one of the largest broadband providers in the United States Comcast Corp for faster speeds, throwing open the possibility that more content companies will have to shell out for better service.

A gauge of the U.S. service sector fell in February to the lowest level in four months, with slower readings for employment and new business, Markit reported Monday. The index hit 52.7 in February, down from 56.7 in January.

Billionaire investor Carl Icahn accused eBay Chief Executive John Donahoe of failing to spot – or ignoring – conflicts of interest on the company’s board and called again for the spinoff of its fast-growing PayPal division.

Netflix has agreed to pay one of the largest broadband providers in the United States Comcast Corp for faster speeds, throwing open the possibility that more content companies will have to shell out for better service.