Upbeat earnings lift markets

Upbeat corporate earnings boosted the markets to a higher open with the Dow surging 162 points to 16,364 as durable goods orders fell. Nasdaq gained 16 points to 4,751.

On the upside

Jabil Circuit (NYSE: JBL) swung to a better than expected profit for the fourth quarter as revenue rose.

Bellerophon Therapeutics (Nasdaq: BLPH) reported upbeat interim results from a Phase 2 long-term extension study of INOplus to treat pulmonary arterial hypertension.

Nike (NYSE: NKE) reported higher first quarter earnings and revenue that beat analyst expectations.

On the downside

Pier 1 Imports (NYSE: PIR) disappointed with sharply lower second quarter earnings that fell short of expectations and lowered its full year earnings outlook.

Second quarter earnings slipped for Finish Line (Nasdaq: FINL).

Emerge Energy Services (NYSE: EMES) withdrew its 2015 distribution guidance.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 gained 11 points to 1,943. Bitcoin edged up to $234.

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