The markets advanced during the midday with the Dow gaining 63 points to 15,189. Nasdaq rose 18 points to 3778.

On the upside

SeeThruEquity initiated coverage of L&L Energy (Nasdaq: LLEN) with a price target of $5.43.

Infosys (NYSE: INFY) reported lower second quarter earnings but the results topped analyst estimates.

Oclaro (NYSE: OCLR) will sell its Amplifier and Micro-Optics business to II-VI Incorporated (Nasdaq: IIVI) for $88.6 million.

On the downside

The Food and Drug Administration issued a safety announcement cautioning doctors to carefully weigh the risks and benefits of Ariad Pharmaceuticals’ (Nasdaq: ARIA) leukemia treatment Iclusig. 

Micron Technology (Nasdaq: MU) reversed year ago losses to post a profit for the fourth quarter due to its acquisition of Elpida Memory but the results fell short of expectations prompting a downgrade.

Mad Money’s Jim Cramer said to sell Acadia Pharmaceuticals (Nasdaq: ACAD).

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 added 5 points to 1698.