U.S. shares climbed sharply in early trade today as investors turned optimistic after eurozone leaders over the weekend reached an agreement for a third bailout program for Greece. The S&P 500 (INDEXSP:.INX) rose 0.9 percent to 2,095.99 at 11:43 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) gained 1.1 percent to 17,950.05, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) rallied 1.3 percent to 5,062.20. Most followed shares included Seagate, Fitbit, Medtronic, Comcast, Starbucks, Jarden, PepsiCo, Ascena Retail, BorgWarner, Dana Holding, Ingersoll-Rand, Jacobs Engineering, and Black Hills.
In technology stocks, Seagate (NASDAQ:STX) slid 1.8 percent to $45.13 after cutting its sales guidance for its latest quarter on weaker-than-expected demand.
Fitbit (NYSE:FIT) climbed 4.2 percent to $44.10 after Piper Jaffray initiated coverage of the maker of fitness-tracker bracelets with an overweight rating, similar to a buy.
In health-care shares, Medtronic (NYSE:MDT) rose 1 percent to $75.09. The medical technology company agreed to acquire RF Surgical Systems Inc. for roughly $235 million, the latest in a string of smaller deals since the medical-device maker’s acquisition of Covidien.
In consumer shares, Comcast (NASDAQ:CMCSA) rose 1.4 percent to $64.06 as the largest U.S. cable operator will offer a Web-based TV service with about a dozen channels for $15 a month to its Xfinity Internet customers, in response to challengers like Dish Network and Netflix.
Starbucks (NASDAQ:SBUX) added 2.2 percent to $55.76 as the world’s largest coffee chain is spearheading a multi-company initiative to hire 100,000 young minority workers over the next three years.
Jarden (NYSE:JAH) added 4.5 percent to $54.64 after saying it reached a deal to buy disposable-tableware maker Waddington Group Inc. from private-equity firm Olympus Partners for about $1.35 billion, adding to its business-to-business offerings.
PepsiCo (NYSE:PEP) gained 1.8 percent to $97.30 even as Susquehanna cut its rating on the stock to "neutral" from "positive," on what it sees as the reduced possibility of a split-off or buyout bid.
Ascena Retail (NASDAQ:ASNA) dropped 14 percent to $14.04 after the retailer late Friday cut its full-year earnings outlook, pointing to weaker-than-expected sales at its stores.
BorgWarner (NYSE:BWA) gained 0.9 percent to $54.14 after the supplier of engineered automotive system agreed to buy Remy International for about $95 million in cash, combining two suppliers of electrical components for the auto industry.
Dana Holding (NYSE:DAN) advanced 1.8 percent to $19.98. The provider of high technology driveline, sealing and thermal-management products named James K. Kamsickas president and chief executive, effective Aug. 11.
In industrials, Ingersoll-Rand (NYSE:IR) climbed 1.4 percent to $67.34 after Stifel Nicolaus lifted the industrials company to buy from hold.
Jacobs Engineering Group (NYSE:JEC) picked up 1.7 percent to $40.85. The technical professional services firm named Steven Demetriou chief executive officer, following the retirement of the company’s CEO late last year.
In other stocks, Black Hills (NYSE:BKH) declined 1.7 percent to $46.04 a day after the energy company said it would buy natural gas utility company SourceGas Holdings for about $1.9 billion.