May 27 (Bloomberg) — U.S. stocks advanced, lifting the Standard & Poor's 500 Index to a new intraday high, after durable goods orders unexpectedly rose and JBS SA offered to buy Hillshire Brands Co. for $6.4 billion.
Hillshire jumped 21 percent as JBS's Pilgrim's Pride Corp. unit made an unsolicited bid for the maker of Jimmy Dean sausages and Ball Park hot dogs. Pfizer Inc. added 0.9 percent after abandoning its attempt to buy AstraZeneca Plc. Bank of America Corp. climbed 3.1 percent after resubmitting its capital plan to the Federal Reserve. Cisco Systems Inc. rose 1.2 percent as Deutsche Bank AG analysts recommended buying the shares.
The S&P 500 rallied for a fourth day, increasing 0.4 percent to 1,908.98 at 10:08 a.m. in New York. The Dow Jones Industrial Average gained 59.21 points, or 0.4 percent, to 16,665.48. The Nasdaq Composite Index added 0.7 percent and the Russell 2000 Index jumped 0.9 percent.
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