(Bloomberg) -- U.S. stocks advanced, with the Standard & Poors 500 Index rebounding from its biggest drop since June, as investors assessed corporate earnings and data showing factory orders fell less than estimated in December.
Yum! Brands Inc. climbed 8.9% after the fast-food retailer reported profit that beat estimates. Michael Kors Holdings Ltd. rallied 17% as the luxury-goods maker increased its profit and sales forecasts. Pfizer Inc. advanced 2.8% amid an analyst upgrade. J.C. Penney Co. plunged to the lowest level since 1980 after same-store sales rose less than analysts estimated.
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