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Medical and industrial equipment maker Roper Industries said it plans to buy hospital software company Sunquest Information Systems for $1.42 billion. Roper also raised its earnings estimate for the year, a result of the pending merger and a stronger dollar. Roper gained 1 percent to $99.64. Sunquest is privately owned. History suggests the stock market could head higher in the coming months, said Sam Stovall, chief equity strategist at S&P Capital IQ. Stocks usually hit their annual peak in the second half of the year. But Stovall said economic reports and earnings estimates "point to a more challenging period ahead." Of the 294 companies in the S&P 500 that have reported earnings so far, 195 have surpassed analysts' expectations. But the bar was set low. Analysts now expect quarterly profits will sink 0.25 percent and revenue will rise just 1.9 percent compared with the year before, according to S&P Capital IQ. That would be the worst earnings season since the summer quarter of 2009. Among other stocks making big moves: Supermarket operator Supervalu rose 13 percent, or 25 cents, to $2.24 after the company announced that it would oust its CEO. Earlier this month, the Minneapolis company reported weaker sales and profits and suspended its dividend. Supervalu also said it may put itself up for sale. Loews Corp. sank 5 percent after reporting that its net income plunged 78 percent in the second quarter. The holding company, controlled by New York's Tisch family, took a hit as falling energy prices lowered the value of its oil and gas properties. The company runs Diamond Offshore Drilling Inc., HighMount Exploration & Production and Loews Hotels. Its stock lost $2.16 to $39.54. Suntech Power Holdings plunged 15 percent. The Chinese solar company said it may be the victim of a massive fraud. Suntech dropped 23 cents to $1.34. The solar company's stock has lost 82 percent of its market value over the past year.
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