Strong Earnings Lift Markets To Higher Open

Strong corporate earnings lifted the markets to a higher open with the Dow climbing 65 points to 11,043. Nasdaq rose 6 points to 2443.

On the upside

Delta Air Lines (NYSE: DAL) reversed year ago losses to post a better than expected profit for the third quarter.

Boston Scientific (NYSE: BSX) swung to a third quarter profit that topped analyst estimates.

US Airways (NYSE: LCC) impressed with third quarter earnings that surpassed expectations.

On the downside

The Food and Drug Administration refused to approve Amylin's (Nasdaq: AMLN) and Alkermes' (Nasdaq: ALKS) diabetes treatment Bydureon until more testing was completed.

Cree (Nasdaq: CREE) reported higher first quarter earnings but revenue fell short of expectations and the LED maker forecast second quarter revenue below estimates.

Marshall & Ilsley (NYSE: MI) blamed loan loss provisions for reporting a wider than expected loss for the third quarter. 

In the broad market, advancing issues outpaced decliners by a margin of  7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 700.