The markets opened higher with the Dow rising 16 points to 18,329 as crude oil prices rebounded. Nasdaq added 3 points to 5,141.
On the upside
Magellan Petroleum (Nasdaq: MPET) entered a merger agreement with Tellurian Investments.
Vector Capital will take Sizmek (Nasdaq: SZMK) in an all cash deal valued at approximately $113.6 million.
Genworth Financial (NYSE: GNW) swung to a better than expected profit for the second quarter.
On the downside
the Rubicon Project (NYSE: RUBI) forecast current quarter results that fell short of analyst expectations.
Kate Spade (NYSE: KATE) cut its full year forecast.
Cray (Nasdaq: CRAY) fell to a greater than expected loss for the second quarter.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on both the NYSE and on Nasdaq. The broader S&P 500 held steady at 2,157. Bitcoin lost $2 to $548.
