Stocks Opened Higher amid Deals, Earnings

U.S. stocks opened higher on Monday as investors weighed mixed earnings reports and deal news, while awaiting data. The Dow Jones Industrial Average lately rose 74.12 points, or 0.42%, to 17,737. The S&P 500 was up 9.29 point, or 0.45%, to 2,088.65. The Nasdaq Composite gained 24.39 points, or 0.48%, to 5,078.14.

HSBC (HSBA.L) profit jumped by a third in the latest quarter as a drop in fines for past misconduct more than offset the impact of a slowdown in Asia and increased spending on regulatory compliance. The bank posted third- quarter profit of $6.1 billion, up from $4.6 billion and above the average analyst forecast of $5.2 billion.

Shire Plc has agreed to buy U.S. rare disease specialist Dyax Corp for about $5.9 billion – and potentially up to $6.5 billion – while still pursuing a five times larger unsolicited bid for Baxalta Inc.

Payments giant Visa Inc. V, -3.33% has reached a deal to acquire Visa Europe Ltd., the companies said in a news release Monday. The deal has a total value of up to €21.2 billion, or $23.4 billion, stemming from an upfront consideration of €16.5 billion and a potential for an additional earn-out of up to €4.7 billion payable following the fourth anniversary of closing, the release said.

TreeHouse Foods Inc. (THS) said Monday it has agreed to acquire ConAgra Foods Inc.’s CAG, +2.69% private brands business for $2.7 billion. TreeHouse said the deal will create the biggest U.S. private label food and drinks maker with annual revenue of nearly $7 billion.

Health care consulting firm MedAssets Inc. (MDAS)said Monday it has agreed to be acquired by private-equity firm Pamplona Capital Management for $2.7 billion in cash.