Markets Open Higher After Germany Supports Bailout
September 12, 2012 at 02:42 AM EDT
Germany’s high court ruled in favor of the euro zone’s bailout fund to lift the markets to a higher open with the Dow rising 27 points to 13,350. Nasdaq added 3 points to 3107.On the upsideFacebook (Nasdaq: FB) founder and chief executive Mark Zuckerberg expects to increase revenue through mobile devices. Nokia Siemens, a joint venture between Nokia (NYSE: NOK) and Siemens (NYSE: SI), will eliminate 400 positions in Finland.Coffee Holding (Nasdaq: JVA) reported higher third quarter earnings as revenue climbed.On the downsideTeekay Offshore (NYSE: TOO) priced its offering of 7.4 million common units at the discounted price of $27.65 per unit. MGIC Investment (NYSE: MTG) will defer paying interest on debentures until 2022.PURE Biosciences (Nasdaq: PURE) priced its public offering of approximately 3.78 million common shares at the discounted price of $1.10 per share.In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 843.
