Higher Open on Drop In Jobless Claims

A drop in jobless claims lifted the markets to a higher open with the Dow climbing 52 points to 14,507. Nasdaq gained 9 points to 3254.

On the upside

Sinovac Biotech (Nasdaq: SVA) reported positive results from a late stage clinical trial of its hand, foot and mouth disease vaccine Enterovirus.


The Men's Wearhouse (NYSE: MW) retained the services of Jefferies & Co. to explore strategic alternatives for its discount retailer unit K&G

Ballard Power Systems' (Nasdaq: BLDP) fuel cell will power ten clean energy buses in Aberdeen, Scotland.


On the downside


Citadel will sell its 27.4 million shares of E*Trade (Nasdaq: ETFC).


Anadigics (Nasdaq: ANAD) priced its public offering of 10 million common shares at the discounted price of $2.00 per share.


SandRidge Energy (NYSE: SD) agreed to add four directors nominated by 7.3% owner TPG-Axon which could lead to firing of chief executive Tom Ward.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index rose 4 points to 1559.

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