Durable goods orders surged in August more than expected to lift the markets to a higher open with the Dow soaring 159 points to 10,822. Nasdaq jumped 37 points to 2364.
On the upside
Alcatel-Lucent (NYSE: ALU) and Blue Coat Systems (Nasdaq: BCSI) partnered to provide global web caching and content delivery solutions.
Tibco Software (Nasdaq: TIBX) reported higher third quarter earnings that topped analyst estimates and acquired software provider to gas and oil firms OpenSpirit.
Advanced Micro Devices (NYSE: AMD) blamed weak laptop sales for lowering its guidance for the third quarter but the stock price rose. Analysts were expecting the outlook adjustment.
On the downside
Vical (Nasdaq: VICL) priced its offering of 15 million common shares at $2.25 per share.
Finish Line (Nasdaq: FINL) reversed year ago losses but the results fell short of estimates.
Satyam (NYSE: SAY) said that it will most likely miss its October 15 deadline to restate its 2009 annual report and will be delisted from the New York Stock Exchange for noncompliance.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 659.
