Upbeat Earnings Lift Markets To Higher Open

Upbeat earnings news lifted the markets to a higher open with the Dow climbing 93 points to 11,03. Nasdaq gained 18 points to 2541.

On the upside

Staples (Nasdaq: SPLS) reported higher second quarter earnings that topped analyst expectations as revenue rose.

MDB Capital Group said that Eastman Kodak's (NYSE: EK) digital imaging patents may be worth $3 billion.

Second quarter earnings rose for Target (NYSE: TGT) and the company forecast full year results ahead of estimates.

On the downside

Dell (Nasdaq: DELL) reported sharply higher second quarter earnings that surpassed analyst expectations but the computer maker lowered its full year revenue guidance.

First quarter earnings for Blue Coat Systems (Nasdsaq: BCSI) plunged to fall short of analyst expectations and the Internet security products company forecast current quarter results below estimates.

Abercrombie & Fitch (NYSE: ANF) reported higher second quarter earnings that beat analyst expectations but the teen apparel retailer warned of that higher costs pressure margins.

In the broad market, advancing issues outpaced decliners by a margin of 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 714.