Austerity measures were approved by the Italian Senate to lift the markets to a sharply higher open with the Dow leaping 225 points to 12,119. Nasdaq soared 37 points to 2662.

On the upside

Disney (NYSE: DIS) reported higher fourth quarter earnings and revenue that beat analyst expectations.  

Corning (NYSE: GLW) will trade ex-dividend on Monday, November 14, 2011. 

Shares of Netlist (Nasdaq: NLST) continued climbing after reporting a narrower loss for the third quarter yesterday.

On the downside

Renren (NYSE: RENN) swung to a loss for the third quarter as expenses surged and the company forecast fourth quarter results below estimates.

Molycorp (NYSE: MCP) reversed year ago losses to post a profit for the third quarter but the results missed estimates.   

Knight Capital Group analyst Vivek Paul said that ATP Oil & Gas (NYSE: ATPG) may not have the cash to make interest payments on debt.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 on the NYSE and by 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 13 points to 739.