A drop in jobless claims lifted the markets to a modestly higher open with the Dow rising 18 points to 14,978. Nasdaq added 5 points to 3407.
On the upside
Ciena (Nasdaq: CIEN) narrowed second quarter losses and forecast third quarter revenue ahead of analyst estimates.
FuelCell Energy (Nasdaq: FCEL) narrowed losses for the second quarter as revenue surged.
An Israeli newspaper reported that PepsiCo (NYSE: PEP) offered $2 billion to acquire SodaStream (Nasdaq: SODA) but PepsiCo denied the report.
On the downside
VeriFone Systems (NYSE: PAY) blamed litigation charges for falling to a loss for the second quarter and forecast current quarter results below expectations.
First quarter earnings fell for Vera Bradley (Nasdaq: VRA) prompting the company to lower its full year guidance. The accessories designer also announced the retirement of chief executive Mike Ray.
Francesca’s Holdings (Nasdaq: FRAN) reported higher first quarter earnings but revenue missed expectations and same store sales rose less than expected.
In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 index held steady at 1608.
