Higher Open As Jobless Claims Fall

Jobless claims fell last week to lift the markets to a higher open with the Dow climbing 58 points to 12,550. Nasdaq added 5 points to 2802.

On the upside

Williams Cos. increased its offer to acquire Southern Union (NYSE: SUG) to approximately $9.4 billion to top the $5.1 billion bid from Energy Transfer (NYSE: ETE).

ConocoPhillips (NYSE: COP) will separate into two companies by spinning off its refining business.

JPMorgan Chase (NYSE: JPM) reported higher second quarter earnings that beat analyst expectations as mortgage delinquencies dropped.

On the downside

Marriott International (NYSE: MAR) reported higher second quarter earnings but the company's full year outlook disappointed.

A woman died under suspicious circumstances at the home of Medicis Pharmaceuticals (NYSE: MRX) chief executive Jonah Shacknai.

JPMorgan downgraded Stillwater Mining (NYSE: SWC) to a Neutral rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 840.