European leaders agreed to increase the rescue fund lifting the markets to a sharply higher open with the Dow surging 215 points to 12,084. Nasdaq jumped 48 points to 2699.
On the upside
Akamai Technologies (Nasdaq: AKAM) reported higher third quarter earnings that topped analyst estimates as revenue climbed and announced the resignation of president David Kenny.
Third quarter earnings and revenue for Citrix Systems (Nasdaq: CTXS) rose to beat expectations and the company forecast current quarter results ahead of estimates.
Shares of Barclays (NYSE: BCS), Deutsche Bank (NYSE: DB) and ING (NYSE: ING) all rose after European leaders increased the financial rescue fund to 1 trillion euros.
On the downside
Third quarter earnings plunged for TriQuint Semiconductor (Nasdaq: TQNT) as revenue fell and the chipmaker forecast current quarter results below estimates.
Avon Products (NYSE: AVP) reported lower third quarter earnings and withdrew its guidance for the current quarter.
McDermott International (NYSE: MDR) warned that third quarter earnings and revenue would fall short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 11 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 20 points to 747.
