The markets opened higher with the Dow rising 25 points to 17,555 as crude oil prices topped $49 per barrel. Nasdaq gained 32 points to 4,747.
On the upside
Nice Systems will acquire inContact (Nasdaq: SAAS) for a premium of approximately $940 million in cash.
The Andersons (Nasdaq: ANDE) rejected an unsolicited acquisition offer from HC2.
Micron Technology (Nasdaq: MU) entered a Note Purchase Agreement with NTC.
On the downside
Vipshop Holdings (NYSE: VIPS) reported higher first quarter earnings and revenue but margins fell and the company forecast current quarter revenue below estimates.
Target (NYSE: TGT) reported lower first quarter revenue that missed expectations and forecast second quarter results below estimates.
Allegheny Technologies (NYSE: ATI) announced a senior notes offering.
In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 slipped 2 points to 2,044. Bitcoin added $1 to $454.
Higher open as crude oil tops $49
May 18, 2016 at 10:45 AM EDT