The markets opened higher with the Dow rising 24
points to 11,173 after Federal Reserve Chairman Ben Bernanke assured investors that the central bank could further stimulate the economy if necessary. Nasdaq climbed 31
points to
2451.
Aruba Networks (Nasdaq: ARUN) reported sharply higher fourth quarter earnings that topped analyst estimates.
Pandora Media (NYSE: P) widened second quarter losses due to charges but the results were better than expected and the Internet radio company forecast full year earnings ahead of estimates.
Second quarter earnings climbed for Tiffany & Co. (NYSE: TIF) to beat analyst expectations by a wide margin prompting the fine jewelry retailer to lift its full year outlook.
On the downside
OmniVision (Nasdaq: OVTI) reported higher first quarter earnings but forecast second quarter earnings well below analyst expectations.
Bloomberg reported that Clearwire (Nasdaq: CLWR) was exploring debt restructuring options.
Magma Design Automation (Nasdaq: LAVA) narrowed first quarter losses but revenue fell short of expectations.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 673.
