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Investors Welcome European Bailout Details

The markets traded higher during the midday with the Dow jumping 212 points to 12,814 after European officials announced that they will ease austerity measures and lend bailout funds directly to struggling banks. Nasdaq surged 67 points to 2917.

On the upside

Shares of ServiceNow (NYSE: NOW) surged on its first day of trading.

Tibco Software (Nasdaq: TIBX) reported higher second quarter earnings and revenue that beat analyst expectations.

KB Home (NYSE: KBH) narrowed second quarter losses more than expected.

On the downside

Team Health Holdings (NYSE: TMH) priced its secondary offering of 8 million common shares at the discounted price of $23.95 per share.

Shares of Barclays (NYSE: BCS) continued falling after being fined $453 million yesterday for manipulating interest rates.

Walter Energy (NYSE: WLT) forecast higher second quarter coal production but warned of lower prices.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 18 points to 793.

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