Markets open higher

The market recovered from yesterday's steep losses to open higher with the Dow climbing 94 points to 18,137. Nasdaq gained 33 points to 5,066.

On the upside

Fortinet (Nasdaq: FTNT) will pay a premium of approximately $44 million in cash to acquire Meru Networks (Nasdaq: MERU).

Dawson James initiated coverage of Great Basin Scientific (Nasdaq: GBSN) with a Buy rating and a $10 price target.

Tiffany (NYSE: TIF) reported lower first quarter earnings and revenue but the results were better than expected.

On the downside

Michael Kors (NYSE: KORS) reported higher fourth quarter earnings and revenue but the results fell short of analyst expectations and the retailer forecast 2016 results below estimates.

Workday (NYSE: WDAY) narrowed first quarter losses more than expected as revenue soared but the stock price fell.

21Vianet Group (Nasdaq: VNET) narrowed losses for the first quarter but the stock price fell after Barron's said that the company was overvalued.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 gained 10 points to 2114. Bitcoin added $1 to $238.
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