Higher open as crude oil prices drop

A drop in crude oil prices boosted the markets to a higher open with the Dow rising 34 points to 16,594. Nasdaq gained 21 points to 4410.

On the upside

Third quarter revenue surged 340% for LiveDeal (Nasdaq: LIVE).

Canadian Solar (Nasdaq: CSIQ) swung to a greater than expected profit for the second quarter as revenue climbed.

Bargain hunters lifted shares of Kate Spade (NYSE: KATE).

On the downside

SeaWorld Entertainment (NYSE: SEAS) reversed year ago losses to post a profit for the second quarter but the results fell far short of analyst expectations prompting the company to cut its full year outlook.

Second quarter earnings rose for King Digital Entertainment (NYSE: KING) but revenue missed expectations and the company cut its full year guidance prompting downgrades.

Cree (Nasdaq: CREE) reported higher fourth quarter earnings but revenue fell short of expectations and the LED lighting maker forecast current quarter revenue below estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 rose 5 points to 1939. Bitcoin dropped $29 to $537.

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