Higher Open As Cyprus Secures Bailout

The markets opened higher with the Dow rising 16 points to 14,528 after Cyprus reached a deal with the European Union to secure a bailout. Nasdaq added 7 points to 3252.

On the upside

Apollo Group (Nasdaq: APOL) reported sharply lower second quarter earnings as enrollment fell but the results were better than expected.

Dollar General (NYSE: DG) reported higher fourth quarter earnings that beat analyst expectations.

Mad Money's Jim Cramer rated Acadia Pharmaceuticals (Nasdaq: ACAD) a Buy.

On the downside

The Patent Office ruled that Idenix Pharmaceuticals (Nasdaq: IDIX) was the junior party in a patent dispute with Gilead Sciences (Nasdaq: GILD).

Goldman Sachs downgrade BlackBerry (Nasdaq: BBRY) to a Neutral rating.

BMO Capital Markets downgraded J.C. Penney (NYSE: JCP) to an Underperform rating.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 index rose 4 points to 1561.

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