A strong 1.8% increase in June factory orders lifted the markets to a higher open with the Dow rising 14 points to 17,613. Nasdaq added 4 points to 5,120.
On the upside
Shire offered to acquire Baxalta (NYSE: BXLT) for a premium of approximately $30 billion.
IPC Healthcare (Nasdaq: IPCM) agreed to be acquired by Team Health Holdings in an all cash deal valued at approximately $1.6 billion.
Abiomed (Nasdaq: ABMD) swung to a better than expected profit for the first quarter as revenue soared prompting the company to lift its full year forecast.
On the downside
TriNet Group (NYSE: TNET) fell to an unexpected loss for the second quarter even as revenue rose.
Cogenix (Nasdaq: CGNX) reported higher second quarter earnings and revenue but the company forecast disappointing third quarter results.
Scientific Games (Nasdaq: SGMS) widened losses for the second quarter.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 added 2 points to 2100. Bitcoin added $1 to $282.
Higher open as factory orders climb
August 04, 2015 at 10:44 AM EDT