July 30, 2012 at 10:50 AM EDT
Modestly Higher Open Ahead Of Fed Meeting
The markets opened modestly higher with the Dow rising 38 points to 13,113 ahead of the Federal Reserve's meeting this week. Nasdaq held steady at 2958.
On the upside
Chicago Bridge & Iron (NYSE: CBI) will pay approximately $3.04 billion in cash and stock to acquire Shaw Group (NYSE: SHAW).
Bargain hunters lifted shares of Green Dot (NYSE: GDOT) whose stock price plummeted last week after reporting lower second quarter earnings that fell short of analyst expectations.
Clean Diesel Technologies (Nasdaq: CDTI) has begun supplying catalysts for the Honda Accord.
On the downside
Suntech Power Holdings (NYSE: STP) said that a pledge of German government bonds worth 560 million euros by Global Solar Fund may have been fraudulent.
The Food and Drug Administration issued a Complete Response Letter requesting additional clinical data to Salix Pharmaceuticals (Nasdaq: SLXP) for its opioid-induced constipation treatment Relistor.
Alpha Natural Resources (NYSE: ANR) received an imminent danger order alleging failure of a highwall at its Eagle Butte Mine in Wyoming.
In the broad market, advancing issues outpaced decliners by a margin of more the 3 to 2 on the NYSE and by nearly 10 to 9 Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 796.
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