Amphenol Acquires CommScope Connectivity Business for $10.5 Billion

U.S. stocks rallied on Monday, with the Dow Jones Industrial Average gaining around 400 points, buoyed by strong corporate earnings and significant merger announcements. Wayfair reported better-than-expected Q2 financial results, with earnings per share of 87 cents and sales surpassing estimates, driving its shares higher. CommScope shares soared nearly 75% following Amphenol's $10.5 billion acquisition agreement for its Connectivity and Cable Solutions business, while Steelcase and Joby Aviation also saw substantial stock gains due to acquisition news. IDEXX Laboratories led the S&P 500's gains after beating profit and sales expectations and raising its guidance, reflecting strong demand for its cellular analyzer. Berkshire Hathaway's shares declined after a disappointing Q2 earnings report and a substantial write-down from its Kraft Heinz stake, offsetting some broader market optimism. Additionally, President Donald Trump imposed higher tariffs on India over its support for Russia, adding a geopolitical dimension to market considerations.