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June 14, 2012 at 10:58 AM EDT
Higher Open As Consumer Prices Fall
Falling consumer prices lifted the markets to a higher open with the Dow gaining 52 points to 12,549. Nasdaq added 2 points to 2821.
On the upside
Quest Software (Nasdaq: QSFT) received a higher acquisition offer of approximately $2.15 billion in cash that topped Insight Venture Partners' $2 billion bid.
Kroger (NYSE: KR) reported higher first quarter earnings that beat analyst expectations prompting the grocery store chain to lift its full year guidance.
Shares of Dendreon (Nasdaq: DNDN) continued rising after Summer Street initiated coverage of the biotechnology firm with a Buy rating yesterday.
On the downside
Nokia (NYSE: NOK) warned that second quarter results will fall short of expectations announced plans to eliminate 10,000 positions around the world and close production facilities.
3D Systems (NYSE: DDD) priced its public offering of 3.7 million common shares at the discounted price of $27.00 per share.
Swiss National Bank said that Credit Suisse (NYSE: CS) must increase its capital.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 752.
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