The markets opened higher with the Dow gaining 51 points to 14,885 even as the nation moved closer to military action against Syria. Nasdaq climbed 23 points to 3636.
On the upside
Ciena (Nasdaq: CIEN) narrowed third quarter losses more than expected as revenue climbed and the network equipment maker forecast current quarter revenue ahead of estimates.
Rockwell Medical (Nasdaq: RMTI) reported positive results from a late stage clinical trial of its chronic kidney disease treatment.
Hayman Capital Management acquired a 5.2% stake in J.C. Penney (NYSE: JCP) while Glenview Capital increased its stake to 9.1%.
On the downside
Second quarter earnings rose for Francesca’s Holdings (Nasdaq: FRAN) but the results missed estimates and the women’s clothing retailer forecast current quarter revenue that fell short of expectations.
SAIC (NYSE: SAI) disappointed with sharply lower second quarter earnings that missed expectations by a wide margin prompting the company to cut its full year guidance.
NQ Mobile (NYSE: NQ) will publish Perfect World’s massively multiplayer online role playing game The Condor Heroes on the iOS platform but the stock price dropped.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 gained 7 points to 1647.
