Americans also spent more in January, but the increase came from a surge in spending on heating bills during the harsh winter. Spending in areas such as autos and clothing declined. Spending rose 0.4 percent in January after a 0.1 percent gain in December, the Commerce Department said Monday. The December figure was revised down from a 0.4 percent increase.
Among other stocks making big moves on Monday:
— Lorillard, the maker of Newport cigarettes, rose $4.55, or 9.3 percent, to $53.61 after the Financial Times reported that rival RJ Reynolds, the maker of Lucky Strike and Camel cigarettes, was considering making a bid for the company.
— Darden Restaurants, the parent company of Olive Garden, slumped $2.73, or 5.3 percent, to $48.33 after the restaurant operator said that exceptionally rough winter weather reduced earnings in its latest quarter by about 7 cents per share. Expenses related to the company’s plan to split off its Red Lobster chain also hurt earnings.