The markets opened higher with the Dow rising 47 points to 9987 ahead of wholesale inventories and sales data. Nasdaq gained 11 points to 2182.
On the upside
Take-Two Interactive (NYSE: TTWO) reversed year ago losses to post a better than expected profit for the second quarter.
Ciena (Nasdaq: CIEN) narrowed second quarter losses.
Teoco will pay approximately $58 million in cash to acquire TTI Team Telecom (Nasdaq: TTIL).
On the downside
Allscripts-Misys Healthcare Solutions (Nasdaq: MDRX) will acquire Eclipsys (Nasdaq: ECLP) in an all stock deal valued at approximately $1.3 billion.
France Telecom chief executive Stephane Richard said that Nokia (NYSE: NOK) is losing market share in Europe to Apple's (Nasdaq: AAPL) iPhone.
Ambac Financial (NYSE: ABK) warned that it may have to file for bankruptcy protection.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 622.
