Upbeat earnings lift markets to higher open

Upbeat earnings lifted the markets to a higher open with the Dow rising 38 points to 16,856. Nasdaq soared 40 points to 4,526.

On the upside

Second quarter earnings fell for Integrated Device Technology (Nasdaq: IDTI) but the results were better than expected.

Madison Square Garden (Nasdaq: MSG) will explore separating the company into two businesses.

China granted Ascent Solar Technologies (Nasdaq: ASTI) the Business License and the Certificate of Approval for Establishment of Enterprises with Foreign Investment required to begin operations at its China Joint Venture manufacturing facility.

On the downside

Twitter (NYSE: TWTR) widened third quarter losses as user growth slowed prompting downgrades.

Sanofi (NYSE: SNY) reported higher third quarter earnings and revenue but the company warned of challenges to its diabetes sales through 2015.

Coach (NYSE: COH) reported lower first quarter earnings and revenue.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by 3 to 1 on Nasdaq. The broader S&P 500 rose 7 points to 1969. Bitcoin added 2 points to $353.
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