Economics
U.S. Stocks Rise to Records Amid Small-Cap Rally, Deals
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U.S. stocks rose, with benchmark indexes extending records, as small-cap shares rallied and Family Dollar Stores Inc. advanced with Analog Devices Inc. amid deals activity.
Family Dollar jumped 13 percent as a filing showed Carl Icahn has amassed a 9.4 percent stake. Analog Devices jumped 5 percent after agreeing to buy a chipmaker for about $2 billion. Idenix Pharmaceuticals Inc. more than tripled after Merck & Co. agreed to buy the drugmaker for $3.9 billion. Tyson Foods Inc. fell 6.5 percent after the company said it made a binding offer for Hillshire Brands Co. Apple Inc. traded at $93.70, reflecting a seven-for-one stock split.