The markets opened higher with the Dow rising 12 points to 11,445 as debt discussions commenced in Europe. Nasdaq held steady at 2607.
On the upside
RPX (NYSE: RPXC) priced its follow-on offering of 3 million common shares at the discounted price of $20.49 per share.
Molycorp (NYSE: MCP) announced that expansion and modernization plans are fully funded and discussions to secure financing with Sumitomo have ended.
Shares of Arena Pharmaceuticals (Nasdaq: ARNA), maker of the diet drug Lorcaserin, rose after Vivus announced that it was resubmitting a new application for Qnexa.
On the downside
Research In Motion (Nasdaq: RIMM) disappointed with sharply lower second quarter earnings that fell short of expectations on weak smartphone and tablet sales.
Patriot Coal (NYSE: PCX) warned that third quarter production will fall while the average cost per ton of coal will rise.
Zogenix (Nasdaq: ZGNX) priced its public offering of 30 million common shares at the discounted price of $2.00 per share.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 713.