Stocks Opened Higher as Mergers Lifted Shares

U.S. stocks opened higher on Monday, getting a lift from a series of merger announcements. The Dow Jones Industrial Average lately climbed 112.18 points, or 0.62%, to 18,257.89. The S&P 500 gained 11.80 points, or 0.55%, to 2,152.96. The Nasdaq Composite added 39.29 points, or 0.75%, to 5,296.69.

AT&T Inc. and Time Warner Inc. are suiting up for the Great Media Game. AT&T reached a deal to acquire Time Warner for $85.4 billion in cash and stock, a move which creates a media giant.

Brokerage TD Ameritrade Holding Corp. (AMTD)  and Toronto-Dominion Bank (TD)  on Monday confirmed they have reached a $4 billion deal to buy privately owned brokerage Scottrade Financial Services Inc.

Rockwell Collins Inc. agreed to pay $6.4 billion to buy B/E Aerospace Inc. in a deal that would unite two of the biggest suppliers to airlines and plane makers.

Genworth Financial Inc., a dominant carrier in U.S. long-term-care insurance, agreed to sell itself to a Chinese investment firm as persistent low interest rates and rising costs hobble its business. The Chinese investment firm, China Oceanwide Holdings Group Co., will pay about $2.7 billion for Genworth.

Oil prices struggled for direction on Monday on signs that the production cut plan proposed by the Organization of the Petroleum Exporting Countries could face more headwinds after Iraq signaled it wants to be excluded from the pact. Light, sweet crude futures for delivery in December slipped 3 cents, or 0.1%, to $50.82 a barrel. December Brent crude rose 8 cents, or 0.2%, to $51.86 a barrel.