Higher Open As Bargain Hunters Snap Up Deals

Bargain hunters lifted the markets to a higher open with the Dow soaring 148 points to 10,965. Nasdaq surged 38 points to 2380.

On the upside

Chinese online media company Sina (Nasdaq: SINA) acquired approximately a 4% stake in Chinese online video company Tudou Holdings (Nasdaq: TUDO), which made its Nasdaq debut last Wednesday.

HSBC and Avian both upgraded Yingli Green Energy (NYSE: YGE) after the photovoltaic products company reported second quarter earnings last Friday that topped analyst estimates.

MicroStockProfit and Equity Markets both issued research reports on Clearwire (Nasdaq: CLWR).

Reports that turmoil in Libya may soon end lifted shares of American Airlines parent AMR (NYSE: AMR).

Goodyear Tire & Rubber (NYSE: GT) announced that its new headquarters in Akron, Ohio is on schedule for completion in 2013.

On the downside

Canaccord affirmed its Sell rating on Seattle Genetics (Nasdaq: SGEN).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 660.