Higher open as ECB cuts rates

A rate cut by the European Central Bank cut lifted the markets to a higher open with the Dow climbing 64 points to 17,143. Nasdaq gained 22 points to 4,594.

On the upside

Teledyne Technologies (NYSE: TDY) will acquire Bolt Technology (Nasdaq: BOLT) in an all cash deal valued at approximately $171 million.

USAA and Mitek Systems (Nasdaq: MITK) settled all litigation claims between them.

PVH (NYSE: PVH) reversed year ago losses to post a stronger than expected profit for the second quarter.

On the downside

Ciena (NYSE: CIEN) swung to a profit for the third quarter but the networking equipment provider forecast current quarter revenue below expectations.

Summit Midstream Partners (NYSE: SMLP) increased its public offering to approximately 4.347 million common units and priced the offering at the discounted price of $53.88 per common unit.

Matrix Service (Nasdaq: MTRX) disappointed with flat fourth quarter earnings that missed analyst expectations and forecast 2015 earnings that fell short of estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 gained 7 points to 2008. Bitcoin added $4 to $478.