US stocks rising for the second day in a row; ADT surges

NEW YORK (AP) — Stocks are climbing today and building on their gains from late last week. Home-security company ADT is surging after it agreed to be bought by an investment company, and strong quarterly reports are boosting companies including Hormel Foods and Restaurant Brands International.

The Dow Jones industrial average rose 90 points, or 0.6 percent, to 16,063 as of 10:25 a.m. Eastern time. The Standard & Poor's 500 index gained 15 points, or 0.8 percent, to 1,879. The Nasdaq composite climbed 57 points, or 1.3 percent, to 4,394. U.S. markets were closed Monday for the Presidents Day holiday.

Home-security services company ADT surged after it accepted an offer from investment company Apollo Global Management worth $42 per share, or $6.94 billion. ADT has 40 days to seek other offers. Its stock rose $13.53, or 50.4 percent, to $40.40. Apollo Global added 16 cents to $13.56.

Hormel Foods, the maker of Spam and Dinty Moore stew, among other foods, posted a stronger-than-expected quarterly profit and raised its forecast for the year. The stock climbed $2.24, or 5.4 percent, to $43.78.