US indexes at all-time highs; Pinnacle Foods soars

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Associated Press

Posted on May 12, 2014 at 10:02 AM

Updated Monday, May 12 at 10:02 AM

NEW YORK (AP) — Stocks are higher on Wall Street, sending major indexes to all-time highs.

Pinnacle Foods surged 14 percent after the company agreed to be acquired by Hillshire Brands. Pinnacle's brands include Duncan Hines and Aunt Jemima, while Hillshire makes Jimmy Dean and Sara Lee products. Hillshire fell 6 percent.

Twenty-First Century Fox rose 3 percent following reports that the company is seeking to consolidate its European satellite television business.

The Dow Jones industrial average rose 99 points, or 0.6 percent, to 16,680 as of noon Monday.

The Standard & Poor's 500 index rose 14 points, or 0.8 percent, to 1,893.

The Nasdaq composite rose 61 points, or 1.5 percent, to 4,132.

The Dow and S&P 500 are at all-time highs.

The yield on the 10-year Treasury note rose to 2.65 percent.

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