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Higher Open On Second Bailout For Greece

Greece will receive a second round bailout funds to avert bankruptcy. The markets opened higher with the Dow gaining 43 points to 12,993 while Nasdaq rose 9 points to 2961.

On the upside

The Food and Drug Administration approved Corcept Therapeutics' (Nasdaq: CORT) Korlym to treat high blood sugar in Cushing's Syndrome patients.

Threshold Pharmaceuticals (Nasdaq: THLD) reported positive results from a Phase 2b clinical trial of its pancreatic cancer treatment TH-302.

Genomma Lab Internacional made a non-binding offer to acquire Prestige Brands (NYSE: PBH) in deal valued at approximately $834 million.

On the downside

Weatherford International (NYSE: WFT) must restate financials from 2011 through 2008 and possibly in prior years.

Wal-Mart (NYSE: WMT) disappointed with fourth quarter earnings that fell short of analyst expectations. International (Nasdaq: CTRP) reported lower fourth quarter earnings prompting a downgrade.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 827.

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