Markets Open Higher Ahead Of Economic Reports

May 04, 2009 at 09:41 AM EDT

The markets opened higher with the Dow climbing 96 points to 8308 as investors await housing and construction reports. Nasdaq rose 17 points to 1736.

On the upside

Sprint Nextel (NYSE: S) widened first quarter losses as revenue dropped but the results were better than expected.

Shares of Boise (NYSE: BZ) rose ahead of its earnings release tomorrow.

UBS upgraded Cott (NYSE: COT) after the soft drink maker reversed year ago losses to post a first quarter profit.

On the downside

Tyson Foods (NYSE: TSN) blamed falling beef sales and charges for a larger than expected second quarter loss.

Calgon Carbon (NYSE: CCC) disappointed with first quarter revenue that fell short of estimates.

Caris & Co. downgraded AthenaHealth (Nasdaq: GPRO) after the online services provider for medical practices reported first quarter revenue that misses expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 491.