Higher open as crude oil recovers

The markets opened higher with the Dow holding steady at 21,467 as crude oil prices recovered. Nasdaq leaped 40 points to 6,228.


On the upside


Red Hat (NYSE: RHT) reported higher first quarter earnings and revenue that topped analyst estimates and lifted its forecast prompting an upgrade.


Bloomberg reported that BMC Software was exploring a possible acquisition of CA (Nasdaq: CA).


An independent radiology review committee confirmed positive results of Exelixis' (NYSE: EXEL) Cabometyx to treat intermediate or poor risk advanced renal cell carcinoma.


On the downside


Macquarie cut its price target on Chicago Bridge & Iron (NYSE: CBI) from $11.50 to $10.00.


Sangamo Therapeutics (Nasdaq: SGMO) priced its public offering of 10 million common shares at the discounted price of $7.25 per share.

Dick's Sporting Goods (NYSE: DKS) will open a technology center in San Diego.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 2 points to 2,439. Bitcoin tumbled $50 to $2683.


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