The markets opened higher with the Dow climbing 85 points to 12,134 as the nation's trade deficit narrowed in April. Nasdaq gained 11 points to 2687.
On the upside
A Seeking Alpha article listed Chimera Investment (NYSE: CIM) as an undervalued stock with much upside potential.
Moody's Investors Service upgraded Interpublic Group's (NYSE: IPG) senior unsecured rating.
The Department of Agriculture projected lower feed grain supplies for 2011/2012 which lifted shares of Potash (NYSE: POT) in anticipation of higher prices.
On the downside
Sina (Nasdaq: SINA) unveiled plans to develop an English-language microblog service but concerns of stringent policing of content weighed down shares of the Chinese web portal.
Shares of Fusion-io (NYSE: FIO) plunged on its first trading day.
Vertex Pharmaceuticals (Nasdaq: VRTX) reported positive results from a midstage clinical trial combining two different drugs to treat cystic fibrosis but analysts expected much greater improvement in patients.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 792.
