NEW YORK — U.S. stocks edged mostly higher Monday as encouraging corporate news was offset by slumping energy stocks. Hewlett-Packard rose after announcing that it would split itself into two companies. Medical equipment maker Carefusion surged after rival Becton Dickinson and Co. said it would acquire the company.
KEEPING SCORE: The Standard and Poor's 500 index rose one point, or 0.1 percent, to 1,969 as of 11:26 a.m. Eastern. The Dow Jones industrial average climbed 23 points, or 0.2 percent, to 17,034. The Nasdaq composite fell nine points, or 0.2 percent, to 4,465.
BIG SPLIT: Hewlett-Packard gained after announced that it is splitting itself in two. One company will focus on personal computer and printing and the other on technology services such as data storage, servers and software. The stock climbed $1.72, or 4.9 percent, to $36.92.
HEALTHY MERGER: New Jersey medical equipment maker Becton Dickinson and Co. says it will pay $12.2 billion for rival Carefusion in a combination focused on medication systems for hospitals and pharmacies. Carefusion's stock jumped $10.71, or 23 percent, to $56.87. Becton climbed $8.01, or 6.9 percent, to $123.70.
BANKRUPTCY SHOCK: Apple supplier GT Advanced Technologies plunged $9.44, or 85 percent, to $1.61 after the company said that it was filing for bankruptcy. The company is developing sapphire materials for Apple's products.
ENERGY SLUMP: Oil prices fell again, dragging the energy sector lower. Benchmark U.S. crude fell 30 cents to $89.44 a barrel, its lowest price in more than two years. Energy stocks have slumped almost 12 percent in the last three months.
BLOCK SALE: H&R Block logged the biggest drop in the S&P 500 after saying that its latest attempt to sell its banking business is getting bogged down in the regulatory process. The tax preparer said it would not be able to complete the deal before the next tax season. Its stock dropped $1.77, or 5.6 percent, to $29.89.
EUROPEAN STOCKS: Britain's FTSE 100 rose 0.4 percent to 6,555 and Germany's DAX advanced 0.9 percent to 9,279. France's CAC 40 added 0.3 percent to 4,292.
BRAZILIAN BOOST: Brazil's stock market surged after the left-leaning President Dilma Rousseff was forced into a runoff race against Aecio Neves, a center-right challenger, who only surged in the final week of the campaign. Rousseff is promising to expand Brazil's social programs and continue strong state involvement in the economy, while Neves says he will pursue more centrist economic approaches, such as central bank independence, more privatizations and the pursuit of trade deals with Europe and the United States.
Brazil's benchmark Ibovespa index rose 4.9 percent to 57,207.
THE WEEK AHEAD: The Fed is due to release minutes on Wednesday of its policy meeting last month. Investors will be watching for clues about a timetable for interest rate hikes.
CURRENCIES AND BONDS: The dollar fell to 109.38 yen from Friday's 109.80. The euro inched up to $1.2553 from $1.2520. U.S. government bond prices were steady. The yield on the 10-year Treasury note held at 2.44 percent.
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