Jump In October Pending Home Sales Lifts Markets To Higher Open

A jump in October pending home sales lifted the markets to a higher open with the Dow climbing 83 points to 11,339. Nasdaq gained 16 points to 2565.

On the upside

Verizon (NYSE: VZ) will launch its 4G network this weekend in 38 cities around the country but it will only be available on laptops and though the cost will be less that its 3G plans, it will still be more expensive than plans from Clearwire (Nasdaq: CLWR) and Sprint (NYSE: S), which both have 4G networks for smartphones.

Same store sales surged 22% for Abercrombie & Fitch (NYSE: ANF).

Pepsico (NYSE: PEP) will pay approximately $3.8 billion to acquire a 66% stake in Wimm-Bill-Dann Foods (NYSE: WBD).

On the downside

Aeropostale (NYSE: ARO) disappointed with earnings and revenue that fell short of estimates and announced the resignation of co-chief executive Mindy C. Meads.

Kroger (NYSE: KR) swung to a profit for the third quarter but investors were disappointed with the grocery store chain's full year guidance.

American Eagle Outfitters (NYSE: AEO) disappointed with flat November same store sales.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4points to 747.

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