Modestly Higher Open As Incomes Rise
The markets open modestly higher with the Dow edging up 6 points to 13,917 as personal incomes rose more than expected in December. Nasdaq added 5 points to 3147.
On the upside
Online Resources (Nasdaq: ORCC) will be acquired ACI Worldwide (Nasdaq: ACIW) in an all cash deal valued at approximately $126.6 million.
Scientific Games will pay a premium of approximately $1.42 billion to acquire WMS Industries (NYSE: WMS).
JDS Uniphase (Nasdaq: JDSU) swung to a profit for the second quarter as revenue rose.
On the downside
Celsion (Nasdaq: CLSN) reported disappointing results from a Phase III HEAT Study treating liver cancer patients with ThermoDox. Fourth quarter earnings for Facebook (Nasdaq: FB) topped analyst estimates but mobile revenue growth fell short of expectations prompting downgrades.
Fusion-io (NYSE: FIO) reversed year ago losses to post a better than expected profit for the second quarter but the storage drive maker forecast current quarter revenue below analyst estimates.
In the broad market, declining issues edged out advancers by a margin of nearly 10 to 9 on the NYSE while advancers outpaced decliners by more than 9 to 7 on Nasdaq. The broader S&P 500 index eased a point to 1500.
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