A successful bond auction in Portugal eased debt concerns to lift the markets to a higher open with the Dow climbing 75 points to 11,747. Nasdaq gained 11 points to 2728.
On the upside
Same store sales soared 8.5% for Zale (NYSE: ZLC) during the holiday shopping season.
ITT (NYSE: ITT) announced plans to spin off its water pump business and its defense unit.
China Direct Industries (Nasdaq: CDII) received new purchase contracts valued at approximately $31 million for its magnesium segment.
On the downside
LeapFrog (NYSE: LF) cited softening demand for forecasting 2010 results below analyst expectations.
Arch Coal (NYSE: ACI) lowered its full year guidance.
UBS downgraded AK Steel Holding (NYSE: AKS) to a Sell rating.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 799.
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