October 12, 2012 at 10:44 AM EDT
Higher Open On Upbeat Earnings
The markets opened higher with the Dow rising 43 points to 13,369 on upbeat earnings news. Nasdaq added 3 points to 3053.
On the upside
Shares of Clearwire (Nasdaq: CLWR) continued climbing on news that 49% owner Sprint (NYSE:S) may be acquired by SoftBank.
A Food and Drug Administration staff report supported NPS Pharmaceuticals' (Nasdaq: NPSP) short bowel syndrome treatment Gattex.
Bargain hunters lifted shares of Glu Mobile (Nasdaq: GLUU).
On the downside
Aeterna Zentaris (Nasdaq: AEZS) priced its public offering of 6.6 million units at $2.50 per unit.
Advanced Micro Devices (NYSE: AMD) blamed weak demand for cutting its third quarter revenue outlook.
Wells Fargo (NYSE: WFC) reported higher third quarter earnings but revenue fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 830.
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