Higher Close On Strong Earnings, Lower Jobless Claims

Investors welcomed strong earnings and lower jobless claims to lift the markets to a higher open with the Dow gaining 84 points to 12,170. Nasdaq climbed 38 points to 2736.

On the upside

LightPath Technologies (Nasdaq: LPTH) expanded its direct selling channels in China in order to deliver high volumes of aspheric lenses and laser delivery systems to Asia.

BMO Capital lifted its 2011 earnings estimate for Las Vegas Sands (NYSE: LVS) from $1.72 per share to $1.92 per share.

Imax (NYSE: IMAX) announced a joint venture with Wanda Cinema Line to open 75 Imax big-screen theatres in China.

On the downside

Seeking Alpha contributor Copperfield Research wrote that Ebix's (Nasdaq: EBIX) growth was unsustainable and questioned its business model.

Retreating silver prices weighed down shares of Silver Wheaton (NYSE: SLW).

Shares of Vale (NYSE: VALE) fell after reports surfaced that Brazil's Finance Minister Guido Mantega asked Vale shareholder Bradesco to search for a replacement for Vale's chief executive Roger Agnelli.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 817.