Better Than Expected Earnings Lift Markets

The markets traded higher with the Dow rising 28 points to 11,232 over better than expected corporate earnings news. Nasdaq eased a fraction to 2529.

On the upside

Thomas Weisel Partners Group (Nasdaq: TWPG) will be acquired by Stifel Financial (NYSE: SF) for approximately $300 million in stock.

The Food and Drug Adminstration cleared Digirad's (Nasdaq: DRAD) portable imaging system for sale and marketing.

Charles River Laboratories (NYSE: CRL) will pay approximately $1.6 billion to acquire WuXi PharmaTech (NYSE: WX).

On the downside

PrivateBancorp (Nasdaq: PVTB) widened first quarter losses more than expected as loan loss provisions surged fourfold.

Capitol Bancorp (NYSE: CBC) will raise $7.5 million through a registered direct offering of 2.5 million common shares.

The Treasury Department announced that it will sell up to 1.5 billion shares of Citigroup (NYSE: C).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 742.