Upbeat earnings lifted the markets to a higher open with the Dow climbing 66 points to 16,516. Nasdaq gained 31 points to 4,153.
On the upside
Valeant Pharmaceuticals (NYSE: VRX) offered a premium of approximately $46 billion in cash and stock to acquire Allergan (NYSE: AGN).
Netflix (Nasdaq: NFLX) reported sharply higher first quarter earnings that topped analyst estimates and announced price increases for new customers.
First quarter earnings and revenue rose for Centene (NYSE: CNC) to beat analyst expectations.
On the downside
Arch Coal (NYSE: ACI) widened first quarter losses more than expected prompting the company to cut its shipment forecast.
Medidata Solutions (Nasdaq: MDSO) fell to a loss for the first quarter.
First quarter earnings and revenue fell for Lexmark (NYSE: LXK)
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by a margin of more than 5 to 3 on Nasdaq. The broader S&P 500 climbed 7 points to 1879. Bitcoin edged up $1.70 or 0.35% to $490.21.
