Higher open as existing home sales rise

Existing home sales edged up 1.2% to lift the markets to a higher open with the Dow gaining 60 points to 18,188. Nasdaq held steady at 5,026.

On the upside

Takeda licensed exclusive rights to ImmunoGen's (Nasdaq: IMGN) ADC technology to develop and commercialize targeted anticancer therapeutics.

Maxim Group initiated coverage of Capnia (Nasdaq: CAPN) with a Buy rating.

Shares of Herbalife (NYSE: HLF) continued soaring.

On the downside

Deutsche Bank downgraded Youku Tudou (NYSE: YOKU) from a Hold rating to a Sell rating and slashed its price target from $18.60 to $10.90.

MEI Pharma (Nasdaq: MEIP) reported disappointing data from a Phase II clinical study of Pracinostat to treat myelodysplastic syndrome.

Vertex Pharmaceuticals' (Nasdaq: VRTX) Kalydeco improved lung function in cystic fibrosis patients less than expected.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE while declining issues edged out advancers by a slim margin on Nasdaq. The broader S&P 500 rose 4 points to 2112. Bitcoin eased a fraction to $266.