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New York - US stocks rose early on Tuesday following a large FedEx acquisition deal and an announcement that data services company Informatica would go private.
About 30 minutes into trade, the Dow Jones Industrial Average was at 17 937.54, up 56.69 points (0.32%).
The broad-based S&P 500 rose 4.64 (0.22%) to 2 085.26, while the tech-rich Nasdaq Composite Index added 17.46 (0.35%) at 4 934.77.
Delivery service company FedEx rose 3.7% as it announced it would buy Dutch rival TNT Express for €4.4bn, giving it a big foothold in Europe.
Informatica, which provides data integration software and services to companies, surged 4.2% after it announced it would be acquired by a company controlled by private-equity firm Permira and the Canadian Pension Plan Investment Board for about $5.3bn.
Entertainment giant Viacom, which owns Paramount studios in Hollywood and a range of television channels including MTV and Comedy Central, fell 2% following its announcement that it will take a $785m charge to write down underperforming programming and cover the costs associated with layoffs.
General Motors fell 2.4% on news that the Canadian government will sell its holdings in the US carmaker. The government said that the sale of the 73.4 million GM shares will be completed by April 10.
Axalta Coating Systems jumped 6.3% on news that an affiliate of Berkshire Hathaway will buy 20 million shares of the coatings company for $560m.
Bond prices were mixed. The yield on the 10-year US Treasury rose to 1.92% from 1.90% Monday, while the 30-year held steady at 2.56%. Bond prices and yields move inversely.
