Markets Advance On Earnings

The markets advanced during the midday with the Dow rising 46 points to 15,057 as investors focused on earnings. Nasdaq climbed 30 points to 3619.

On the upside

Urban Outfitters (Nasdaq: URBN) reported higher second quarter earnings that topped analyst estimates as revenue soared.

XOMA (Nasdaq: XOMA) priced its public offering of nearly 7.6 million common shares at the discounted price of $3.62 per share.

Trina Solar (NYSE: TSL) narrowed second quarter losses and increased its panel shipment forecast for 2014.

On the downside

Dick's Sporting Goods (NYSE: DKS) reported higher second quarter earnings but the results fell short of expectations and lowered its full year earnings guidance.

Alvarion's (Nasdaq: ALVR) operating plan that was approved after the appointment of a Receiver will end on August 23.

StealthGas (Nasdaq: GASS) disappointed with sharply lower second quarter earnings that missed analyst estimates as expenses climbed.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 climbed 10 points to 1656.

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