(Bloomberg) -- U.S. stocks advanced, with the Standard & Poor’s 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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