Higher Open Ahead Of Bernanke's Testimony
The markets opened higher with the Dow climbing 63 points to 12,791 ahead of Federal Reserve Chairman Ben Bernanke's testimony before Congress today. Nasdaq gained 15 points to 2913.
On the upside
Goldman Sachs (NYSE: GS) reported lower second quarter earnings and revenue but the results beat analyst expectations by a wide margin.
Yahoo (Nasdaq: YHOO) named Google (Nasdaq: GOOG) executive Marissa Mayer as its new chief executive.
Mattel (NYSE: MAT) reported higher second quarter earnings.
On the downside
Second quarter earnings rose for J. B. Hunt Transport Services (Nasdaq: JBHT) but revenue fell short of expectations.
Nabors Industries (NYSE: NBR) warned that second quarter earnings would miss analyst estimates.
Johnson & Johnson (NYSE: JNJ) disappointed with sharply lower second quarter earnings and revenue and trimmed its full year earnings outlook.
In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 800.
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