Opening Bell Report

The markets opened higher as investors embraced a solid performance from IBM. The Dow rose 76 points to 12,682 while Nasdaq jumped 20 points to 2460.

On the upside

International Business Machines (NYSE: IBM), a Dow component, issued early profit estimates that were 24% above year-ago levels to beat analysts' forecasts.

Shares of Citigroup (NYSE: C) were slightly higher ahead of its earnings results this week. Meanwhile, its efforts to raise funds from a Chinese bank may be opposed by the Chinese government, according to a Wall Street Journal report.

Shares of WellCare Health Plans (NYSE: WCG) were boosted by new contract approvals, higher enrollment and analysts' upgrade.

On the downside

Sears Holdings (Nasdaq: SHLD), which operates Sears and Kmart retail stores, warned that its 4th quarter results may show a significant decline.

Computer networking software provider Compuware (Nasdaq: CPWR) lowered its 3rd quarter outlook due to delayed recognition in sales.

Shares of luxury goods retailers like Coach (NYSE: COH) and Tiffany and Company (NYSE: TIF) continued to lose ground due to worries of soft consumer spending.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 708..

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here