Bargain Hunters Lift Markets To Higher Open

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The markets opened higher with the Dow rising 56 points to 15,429 as investors snapped up deals after yesterday's steep sell-off. Nasdaq gained 27 points to 4023. 

On the upside 

ATMI (Nasdaq: ATMI) reported lower fourth quarter earnings but the results surpassed analyst expectations and the company announced that it agreed to be acquired by Entegris (Nasdaq: ENTG) for approximately $1.15 billion.

UBS upgraded Zynga  (Nasdaq: ZNGA) from a Neutral rating to a Buy rating.

Michael Kors (NYSE: KORS) reported sharply higher third quarter earnings that beat analyst expectations by a wide margin as revenue soared prompting the company to lift its full year forecast.

On the downside


Third quarter earnings surged for Take-Two Interactive (Nasdaq: TTWO) to beat expectations but the company forecast current quarter results below analyst estimates. 

ARM Holdings (Nasdaq: ARMH) fell to a loss for the third quarter.

Fourth quarter earnings fell for Alliance Fiber Optic Products (Nasdaq: AFOP).

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 broader S&P 500 gained 9 points to 1751. Bitcoin slipped $13.65 or 1.48% to $923.01.

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This page contains a single entry by published on February 4, 2014 6:43 AM.

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