Impressive Earnings Lift Markets To Higher Close

The markets closed sharply higher with the Dow surging 146 points to 10,363 as earnings impressed. Nasdaq jumped 43 points to 2242.

On the upside

Standard Pacific (NYSE: SPF) will release second quarter earnings after market close on Thursday, July 29, 2010.

Flagstar Bancorp (NYSE: FBC) regained listing compliance with the NYSE.

Brooks Automation (Nasdaq: BRKS) lifted its third quarter guidance above analyst expectations.

On the downside

Consumer Reports refused to recommend Apple's iPhone 4 (Nasdaq: AAPL) citing reception problems.

Bank of America/Merrill Lynch analyst Vivek Arya initiated coverage of Calix (NYSE: CALX) with an Underperform rating citing valuation concerns.

BioMimetic Therapeutics (Nasdaq: BMTI) will raise capital through the offering of 5 million common shares.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 21 points to 642.