Opening Bell Report

The major indexes opened higher, but the rest of the market was mostly flat as investors mulled over the latest manufacturing reports suggesting a slow, but stable economy.  The Dow added 22 points to 12,668 while Nasdaq rose 4 points to 2512.

On the upside

Shares of Dell (Nasdaq: DELL) surged after the computer maker reported higher 1st quarter earnings that beat targets.   Analysts promptly upgraded the stock.

Semiconductor maker Marvell Technology Group (Nasdaq: MRVL) returned to profitability in the 1st quarter as sales surged.

Penn Virginia (NYSE: PVA) annnounced a successful drilling in Texas to uncover a sizable store of natural gas.

On the downside

United Airlines (Nasdaq: UAUA) and US Airways (NYSE: LCC) called off efforts to merge due to difficult economic conditions that made it unlikely for banks to finance the deal.

Apparel retailer J. Crew Group (NYSE: JCG) posted higher revenues and profits, but lowered its full-year outlook due to weak consumer spending.

Semiconductor company Sigma Designs (Nasdaq: SIGM) posted higher revenues along with lower profits.

In the broad market, declining issues outpaced advancers by a narrow margin on the NYSE and by a margin of 10 to 9 on Nasdaq.  The Russell 2000 which tracks small cap stocks lost 2 points to 743.