Higher open as ECB moves closer to stimulus measures

The markets opened higher with the Dow rising 21 points to 17,831 as the European Central Bank moved closer to implementing stimulus measures. Nasdaq gained 26 points to 4,739.

On the upside

BioMarin will pay a premium of approximately $840 million to buy Prosena (Nasdaq: RNA).

The Therapeutic Goods Administration in Australia approved the marketing application of Ariad Pharmaceuticals (Nasdaq: ARIA) for Iclusig.

3D Systems (NYSE: DDD) will acquire Cimatron (Nasdaq: CIMT) for a premium of approximately $97 million.

On the downside

Trina Solar (NYSE: TSL) reported higher third quarter earnings and revenue but the company cut its solar module shipment forecast for 2014.

Investors locked in profits on Cliffs Natural Resources (NYSE: CLF).

Citigroup downgraded Verizon Communications (NYSE: VZ) from an Overweight rating to a Neutral rating.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 added 5 points to 2068. Bitcoin gained $10 to $379.