Higher Open As Manufacturing Activity Rises

An increase in manufacturing activity lifted the markets to a higher open with the Dow gaining 61 points to 14,959. Nasdaq climbed 37 points to 3637.

On the upside

SunEdison (NYSE: SUNE) announced plans to spinoff its semiconductor business into a separate publicly traded company called SunEdison Semiconductor.

Second quarter earnings and revenue fell for GameStop (NYSE: GME) but the results were better than expected and the company lifted its full year guidance.

The Hain Celestial Group (Nasdaq: HAIN) reported higher fourth quarter earnings and revenue that surpassed analyst expectations and forecast 2014 results above analyst estimates.

On the downside

Hewlett-Packard (NYSE: HPQ) reversed year ago losses to post a profit for the third quarter but revenue fell and the results missed expectations.

Abercrombie & Fitch (NYSE: ANF) disappointed with lower second quarter earnings and revenue that fell short of analyst expectations and forecast current quarter results well below estimates.

Sears Holding (Nasdaq: SHLD) widened second quarter losses as revenue fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 climbed 12 points to 1655.

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