Higher Open As G-20 Meet
The markets opened higher with the Dow rising 19 points to 12,337 as the Group of 20 Finance Ministers and Central Bank Governors prepared to meet this weekend. Nasdaq added a point to 2833.
On the upside
Brocade Communications (Nasdaq: BRCD) reported lower first quarter earnings but the results topped analyst estimates prompting an upgrade.
Fourth quarter earnings surged for SunPower (Nasdaq: SPWRA) to surpass expectations by a wide margin and the company raised its 2011 outlook.
Aruba Networks (Nasdaq: ARUN) narrowed second quarter losses more than expected as revenue surged.
On the downside
Campbell Soup (NYSE: CPB) disappointed with lower second quarter earnings and revenue and cut its full year outlook.
Citigroup downgraded JDS Uniphase (Nasdaq: JDSU).Patterson (Nasdaq: PDCO) warned that third quarter results will fall short of estimates and lowered its full year guidance.
In the broad market, declining issues barely edged out advancers by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 833.
