Upbeat earnings lifted the markets to a higher open with the Dow gaining 50 points to 11,873. Nasdaq rose 7 points to 2711.
On the upside
People's United Financial will acquire Danvers Bancorp (Nasdaq: DNBK) in a cash and stock deal valued at approximately $493 million.
General Electric (NYSE: GE) impressed with sharply higher fourth quarter earnings that topped analyst estimates.
Fourth quarter earnings rose for BB&T (NYSE: BBT) to beat expectations.
On the downside
The Committee for Medical Products for Human Use will not recommend approval of the multiple sclerosis treatment Famprya, which was developed by Acorda Therapeutics (Nasdaq: ACOR), for use in the European Union.
