Aid Deal Finalized For Greece, Markets Close Higher

The markets closed sharply higher with the Dow surging 152 points to 12,724 after European leaders finalized a bailout package for Greece. Nasdaq gained 20 points to 2834.

On the upside

Activist investor Carl Icahn urged Motorola Mobility (NYSE: MMI) to monetize its extensive portfolio of patents.

Analysts expect Cell Therapeutics (Nasdaq: CTIC) to report a second quarter loss next week.

Shares of Sino-Global Shipping (Nasdaq: SINO) continued climbing after announcing yesterday a strategic partnership with COSCO Container Shipping Agency.

On the downside

First quarter earnings plunged for Cirrus Logic (Nasdaq: CRUS) and the chipmaker forecast second quarter results below estimates.

Western Digital (NYSE: WDC) disappointed with sharply lower fourth quarter earnings.

Travelzoo (Nasdaq: TZOO) reported higher second quarter earnings but the results fell far short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 841.