A 0.3% increase in October factory orders lifted the markets to a higher open with the Dow gaining 34 points to 15,910. Nasdaq added a point to 3974.

On the upside 

Cell Therapeutics (Nasdaq: CTIC) partnered with Baxter International (NYSE: BAX) to develop and commercialize its cancer treatment pacritinib.

InterCloud Systems (Nasdaq: ICLD) swung to a profit for the third quarter.

A district court ruled in favor of Cadence Pharmaceuticals (Nasdaq: CADX) in its patent infringement suit against Exela Pharma Sciences.

On the downside

Citigroup downgraded Tile Shop Holdings (Nasdaq: TTS) from a Buy rating to a Neutral rating. 

Russia’s central bank said yesterday that Mechel’s (NYSE: MTL) bonds are worthless.

Morgan Stanley downgraded Gogo (Nasdaq: GOGO) from an Equal Weight rating to an Underweight rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by nearly 5 to 4 on Nasdaq. The broader S&P 500 added 2 points to 1793.