Bargain hunters snapped up deals after yesterday's sharp sell-off to lift the markets to a modestly higher open with the Dow rising 8
points to 10,998. Nasdaq gained 16
points to
2397.
On the upside
Bloomberg reported that Spring (NYSE: S) engaged in discussions to acquire Clearwire (Nasdaq: CLWR).Second quarter earnings slipped for Marvel Technology Group (Nasdaq: MRVL) but the results topped estimates .
Ann (NYSE: ANN) reported higher second quarter earnings that beat analyst expectations, forecast current quarter revenue ahead of estimates and lifted its full year outlook.
On the downside
Hewlett-Packard (NYSE: HPQ) reported higher third quarter earnings that topped analyst estimates but the company lowered its full year earnings and revenue outlook.
LDK Solar (NYSE: LDK) blamed a sharp drop in prices for slashing its second quarter as well as its full year guidance.
Aeropostale (NYSE: ARO) disappointed with sharply lower second quarter earnings as revenue fell and forecast current quarter results well below analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 670.
