U.S. stocks rebounded from earlier losses on Monday and the major averages finished the session 0.4% to 0.85% higher across the board. Health care and consumer discretionary names led the way higher, while energy stocks lagged. Elsewhere, the yield on the benchmark 10-year U.S. Treasury note fell three basis points to 2.168%.
Zulily (ZU) was the big winner on Monday, gaining 49%. The company received a $2.4 billion takeover bid from Liberty Interactive (QVCA). Sprint (S) was the most actively traded name on the session and moved 10% higher after announcing a new upgrade program for Apple's (AAPL) iPhone.
In after-hours action, SunEdison (SUNE) is up 6% on news it's creating a $1 billion investment vehicle with West Street Infrastructure Partners, to fund construction costs and acquire operating assets. Urban Outfitters (URBN) is also up more than 5% in reaction to its quarterly results.
Looking ahead to Tuesday morning, retailers Home Depot (HD), TJX (TJX) and Wal-Mart (WMT) headline the earnings calendar. On the economic front, we'll get a look at housing starts and building permits before the opening bell.
David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.
