Markets Open Higher After Germany Supports Bailout
Germany's high court ruled in favor of the euro zone's bailout fund to lift the markets to a higher open with the Dow rising 27 points to 13,350. Nasdaq added 3 points to 3107.
On the upside
Facebook (Nasdaq: FB) founder and chief executive Mark Zuckerberg expects to increase revenue through mobile devices.
Nokia Siemens, a joint venture between Nokia (NYSE: NOK) and Siemens (NYSE: SI), will eliminate 400 positions in Finland.
Coffee Holding (Nasdaq: JVA) reported higher third quarter earnings as revenue climbed.
On the downside
Teekay Offshore (NYSE: TOO) priced its offering of 7.4 million common units at the discounted price of $27.65 per unit. MGIC Investment (NYSE: MTG) will defer paying interest on debentures until 2022.
PURE Biosciences (Nasdaq: PURE) priced its public offering of approximately 3.78 million common shares at the discounted price of $1.10 per share.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 843.
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