NEW YORK (AP) - Stocks are rising after the death of Osama bin Laden, several strong earnings reports and a big corporate deal in the drug industry.
President Barack Obama said late Sunday that bin Laden, the al-Qaida chief who inspired the Sept. 11, 2001 attacks, had been killed in a firefight with American forces in Pakistan. That raised investors' spirits Monday on Wall Street.
Dish Network, Chrysler and Humana also reported strong earnings. Israeli drugmaker Teva Pharmaceutical Industries said it would buy Cephalon Inc. for $81.50 per share, or $6.8 billion.