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Higher open as factory orders climb

A strong 1.8% increase in June factory orders lifted the markets to a higher open with the Dow rising 14 points to 17,613. Nasdaq added 4 points to 5,120.

On the upside

Shire offered to acquire Baxalta (NYSE: BXLT) for a premium of approximately $30 billion.

IPC Healthcare (Nasdaq: IPCM) agreed to be acquired by Team Health Holdings in an all cash deal valued at approximately $1.6 billion.

Abiomed (Nasdaq: ABMD) swung to a better than expected profit for the first quarter as revenue soared prompting the company to lift its full year forecast.

On the downside

TriNet Group (NYSE: TNET) fell to an unexpected loss for the second quarter even as revenue rose.

Cogenix (Nasdaq: CGNX) reported higher second quarter earnings and revenue but the company forecast disappointing third quarter results.

Scientific Games (Nasdaq: SGMS) widened losses for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 added 2 points to 2100. Bitcoin added $1 to $282.
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