U.S. Stocks Rise on M&A, Earnings Optimism; Steelmaker Shares Advance

(Bloomberg) -- U.S. stocks rose as takeovers and
speculation second-quarter earnings will exceed analysts'
estimates outweighed concern subprime mortgage losses will slow
the economy.

A gauge of steelmakers in Standard & Poor's indexes posted
its biggest gain in a month after Chaparral Steel Co. agreed to
be purchased for $4.22 billion. Yum! Brands Inc., the owner of
Pizza Hut and Taco Bell chains, advanced on a UBS AG upgrade
before its earnings report later today.


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