Initial applications for unemployment benefits fell last week to lift the markets to a higher open with the Dow rising 58 points to 10,307. Nasdaq gained 19 points to 2300.
On the upside
SonicWALL (Nasdaq: SNWL) will be taken private in a deal valued at approximately $717 million.
Excide Technologies (Nasdaq: XIDE) reversed year ago losses to post a profit that beat analyst expectations.
Joy Global (Nasdaq: JOYG) reported second quarter earnings that surpassed analyst estimates by a wide margin and lifted its full year outlook.
On the downside
While Family Dollar Stores (NYSE: FDO) reported strong same store sales growth in the third quarter, the discount retailer forecast earnings below expectations.
Nordstrom (NYSE: JWN) disappointed with same store sales growth below analyst estimates.
Stifel Nicolaus downgraded American Capital (Nasdaq: ACAS).
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 664.
