Higher open as ECB cuts rates

The markets opened higher with the Dow adding 12 points to 16,750 after the European Central Bank cut interest rates. Nasdaq edged up a point to 4,253.

On the upside

Ciena (NYSE: CIEN) narrowed second quarter losses more than expected as revenue climbed and the company forecast current quarter revenue ahead of estimates.

MicroVision (Nasdaq: MVIS) will collaborate with a major global consumer electronics brand to develop an innovative smartphone display engine.

The Food and Drug Administration lifted its hold on a midstage clinical study of Halozyme Therapeutics' (Nasdaq: HALO) pancreatic cancer treatment PEGPH20.

On the downside

Rite Aid (NYSE: RAD) blamed higher drug expenses along with lower reimbursement rates for lowering its 2015 earnings outlook.

RCS Capital (NYSE: RCAP) priced its public offering 24 million common shares at the discounted price of $20.25 per share.

Vera Bradley (Nasdaq: VRA) reported a drop in first quarter earnings as revenue fell and forecast lower second quarter revenue.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 held steady at 1927. Bitcoin rose $19.85 or 3.01% to $660.15.

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