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Tighter Fiscal Oversight For European Nations, Markets Open Higher

The markets opened higher with the Dow soaring 104 points to 12,101 after more than two dozen European nations agreed to tighter fiscal oversight of their budgets. Nasdaq gained 19 points to 2616.

On the upside

Thoma Bravo will take Blue Coat Systems (Nasdaq: BCSI) private in a deal valued at approximately $1.3 billion.   

Alcatel-Lucent (NYSE: ALU) invested in cloud compute platform developer CiiNOW. 

Morgan Stanley (NYSE: MS) climbed on news that European nations agreed to further integrate their budgets in order to resolve the debt crisis.

On the downside

DuPont (NYSE: DD) blamed slower growth and demand for lowering its full year guidance. 

Texas Instruments (NYSE: TXN) cited weak demand for cutting its revenue and earnings guidance for the fourth quarter. 

  

FBR Capital downgraded Invesco Mortgage Capital (NYSE: IVR) to a Market Perform rating from Outperform.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 731.

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