U.S. Stocks Rise to Records as GDP Growth Tops Estimates
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U.S. stocks rose, with the Standard & Poor’s 500 Index capping its biggest weekly gain since October, as data showing faster-than-estimated growth boosted confidence in the world’s largest economy.
Red Hat Inc. surged 14 percent as the software company raised its full-year profit and sales forecasts. Responsys Inc. jumped 40 percent as Oracle Corp. agreed to buy the marketing company for $1.5 billion in cash. CarMax Inc. declined 9.4 percent as the largest U.S. seller of used cars posted earnings that missed analysts’ estimates.