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U.S. Stocks Rise on Factory Data Amid Facebook Deal

U.S. stocks rose, erasing most of yesterday’s drop, as improving manufacturing data tempered concern about the economy and Facebook Inc.’s $19 billion purchase of a messaging startup fueled optimism about deals.

Tesla Motors Inc. surged 8.4 percent after predicting sales of its Model S sedan will jump. Safeway Inc. rallied 2.1 percent as people familiar with the situation said the grocer is weighing a sale. Facebook gained 2.3 percent after agreeing to buy WhatsApp Inc., the fourth deal of at least $16 billion this year. Citrix Systems Inc. rose 5.9 percent as Evercore Partners Inc. said the company’s parts are worth more than the stock price reflects. Wal-Mart Stores Inc. slipped 1.8 percent as the largest retailer forecast profit below estimates.