Higher Open On Upbeat Earnings

The markets opened higher with the Dow rising 27 points to 16,003 on upbeat earnings. Nasdaq added 2 points to 3951.

On the upside

Intellipharmaceuticals International (Nasdaq: IPCI) will immediately launch the commercial sale of the 15 mg and 30 mg strength generic version of the attention deficit hyperactivety disorder drug Focalin.

Horizon Pharma (Nasdaq: HZNP) will acquire the U.S. rights to AstraZeneca's arthritis treatment VIMOVO for $35 million.

United Continental (NYSE: UAL) will reduce expenses by $2 billion per year.


On the downside


Best Buy (NYSE: BBY) swung to a profit for the third quarter but the electronics retailer warned that competitive promotional pricing during the holiday shopping season will hurt margins.

Campbell Soup (NYSE: CPB) disappointed with sharply lower first quarter earnings that fell far short of analyst expectations and lowered its full year guidance.

Salesforce.com (NYSE: CRM) narrowed third quarter losses but the company forecast current quarter earnings below analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The broader S&P 500 added a point to 1793.

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