Modestly Higher Open Ahead Of Fed Meeting
July 30, 2012 at 02:50 AM EDT
The markets opened modestly higher with the Dow rising 38 points to 13,113 ahead of the Federal Reserve’s meeting this week. Nasdaq held steady at 2958.On the upsideChicago Bridge & Iron (NYSE: CBI) will pay approximately $3.04 billion in cash and stock to acquire Shaw Group (NYSE: SHAW).Bargain hunters lifted shares of Green Dot (NYSE: GDOT) whose stock price plummeted last week after reporting lower second quarter earnings that fell short of analyst expectations.Clean Diesel Technologies (Nasdaq: CDTI) has begun supplying catalysts for the Honda Accord.On the downsideSuntech Power Holdings (NYSE: STP) said that a pledge of German government bonds worth 560 million euros by Global Solar Fund may have been fraudulent.The Food and Drug Administration issued a Complete Response Letter requesting additional clinical data to Salix Pharmaceuticals (Nasdaq: SLXP) for its opioid-induced constipation treatment Relistor.Alpha Natural Resources (NYSE: ANR) received an imminent danger order alleging failure of a highwall at its Eagle Butte Mine in Wyoming.In the broad market, advancing issues outpaced decliners by a margin of more the 3 to 2 on the NYSE and by nearly 10 to 9 Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 796.
