U.S. Stocks Rise as Intel to Time Warner Gain Amid Deals

U.S. stocks advanced, sending the Dow Jones Industrial Average to an all-time high, as companies from Time Warner Inc. to Intel Corp. rallied amid deals and earnings reports.

Time Warner surged 17 percent as Rupert Murdoch’s 21st Century Fox Inc. made a takeover bid that was rebuffed. Intel jumped 9.3 percent as its third-quarter sales forecast fueled optimism the personal-computer market is emerging from a two-year slump. International Business Machines Corp. rose 2.1 percent after agreeing with Apple Inc. to develop applications for corporate users of wireless devices.