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April 12, 2012 at 10:48 AM EDT
Trade Deficit Narrows, Markets Open Higher
The nation's trade deficit narrowed in February by 12.4% to $46 billion lifting the markets to a higher open with the Dow gaining 83 points to 12,888. Nasdaq climbed 23 points to 3040.
On the upside
Gartner reported that personal computer sales rose 1.9% from last year with Hewlett-Packard (NYSE: HPQ) increasing its market share to 17.2% from 16.9%.
The Department of Veterans Affairs renewed its contract with McKesson (NYSE: MCK) to provide pharmaceutical supplies for two more years.
On the downside
Societe Generale downgraded Nokia (NYSE: NOK) to a Hold rating.
Rite Aid (NYSE: RAD) narrowed fourth quarter losses but the retail drugstore chain forecast losses for 2013.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 801.
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