The nation’s trade deficit narrowed in July to lift the markets to a higher open with the Dow surging 151 points to 16,503. Nasdaq leaped 35 points to 4,785.
On the upside
Verizon’s (NYSE: VZ) AOL will pay a premium of approximately $250 million to acquire Millennial Media (NYSE: MM).
The New England Journal of Medicine will publish two papers demonstrating the effectiveness of Geron’s (Nasdaq: GERN) imetelstat.
UniPixel (Nasdaq: UNXL) delivered samples to a new touch panel integration partner for a prospective new Tier 1 PC OEM client.
On the downside
Joy Global (NYSE: JOY) disappointed with sharply lower third quarter earnings that fell short of expectations prompting the company to lower its full year outlook.
Five Below (NYSE: FIVE) reported lower second quarter earnings and forecast current quarter results below expectations.
Third quarter earnings rose for Ciena (NYSE: CIEN) but revenue slipped to fall short of estimates.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 surged 21 points to 1,970. Bitcoin eased a fraction to $226.
