Markets Open Higher Ahead Federal Reserve Meeting Tomorrow
The markets opened higher with the Dow adding 15 points to 10,669 ahead of the Federal Reserve's meeting tomorrow. Nasdaq gained 7 points to 2295.
On the upside
Nabors Industries (NYSE: NBR) will pay approximately $900 million to acquire Superior Well Services (Nasdaq: SWSI).
Beverage sales of smoothies and coffee lifted July same store sales for McDonald's (NYSE: MCD) 7% to surpass analyst estimates.
DigitalGlobe (NYSE: DGI) announced a $3.55 billion agreement to provide National Geospatial Intelligence Agency with satellite imagery.
On the downside
Second quarter earnings surged for Dish Network (Nasdaq: DISH) to beat expectations but the company lost customers.
Cannaccord Genuity analyst Jonathan Dorsheimer downgraded Veeco (Nasdaq: VECO).
Hewlett-Packard (NYSE: HPQ) chief executive Mark Hurd was forced to resign on Friday amidst allegations of business conduct violations.
In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 653.
