Higher Open Even As Durable Goods Orders Drop

The markets opened higher with the Dow rising 26 points to 13,008 even as durable goods orders dropped. Nasdaq gained 18 points to 2985.

On the upside

Alimera Sciences (NYSE: ALIM) announced the positive outcome of the Decentralized Procedure for its sustained release diabetic macular edema treatment ILUVIEN in Europe.

SINA (Nasdaq: SINA) reversed year ago losses to post a profit for the fourth quarter.

Office Depot (NYSE: ODP) swung to a better than expected profit for the fourth quarter.

On the downside

Pacific Ethanol (Nasdaq: PEIX) reported a wider than expected loss for the fourth quarter.

Apollo Group (Nasdaq: APOL) lowered its new student enrollment numbers for the second quarter and cut its operating profit for the year.

Credit Suisse downgraded Thompson Creek (NYSE: TC) to a Neutral rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by more than 10 to 9 to on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 826.

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