Modestly Higher Open As Government Talks Continue

The markets opened modestly higher with the Dow rising 32 points to 15,158 as the government continued working on a debt ceiling deal. Nasdaq gained 8 points to 3769.

On the upside

SolarCity (Nasdaq: SCTY) forecast a sharp increase in deployments for 2014.

Envestnet (NYSE: ENV) priced its secondary offering of more than 5 million common shares at $29.25 per share.

Safeway (NYSE: SWY) reported lower third quarter earnings but the grocery store operator announced plans to exit the Chicago market which will yield a tax benefit between $400 million to $450 million.


On the downside


NPS Pharmaceuticals (Nasdaq: NPSP) priced its secondary offering of more than 7.4 million shares at the discounted price of $32 per share.

Gap (NYSE: GPS) disappointed with an unexpected 3% drop in September same store sales.

Silicon Graphics (Nasdaq: SGI) warned that first quarter earnings and revenue would fall short of expectations due to the government shutdown.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 added 2 points to 1695.

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