Higher open on rising crude oil

The markets opened sharply higher with the Dow surging 178 points to 17,539 as crude oil prices continued to rise. Nasdaq climbed 28 points to 4,705.

On the upside

The Wall Street Journal reported that Office Depot (Nasdaq: ODP) and Staples (Nasdaq: SPLS) engaged in advanced discussions for a possible merger.

Canadian Solar (Nasdaq: CSIQ) will pay approximately $265 million to acquire Recurrent Energy from Sharp.

Rising crude oil prices lifted shares of California Resources (NYSE: CRC).

On the downside

Stratasys (Nasdaq: SSYS) reported preliminary 2014 results that fell short of analyst expectations and forecast 2015 results below estimates.

TheStreet's Adam Feuerstein questioned the results from Isis Pharmaceuticals' (Nasdaq: ISIS) Phase II study of its diabetes drug ISIS-PTP1B Rx.

Rent-A-Center (Nasdaq: RCII) reported higher fourth quarter earnings but the results fell short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 climbed 19 points to 2039. Bitcoin added $7 to $237.
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