Surge in durable goods orders lifts markets

A strong 22.6% surge in durable goods orders lifted the markets to a higher open with the Dow gaining 44 points to 17,120. Nasdaq rose 6 points to 4564.

On the upside

Burger King (NYSE: BKW) will pay approximately $11 billion in cash and stock to acquire Canadian coffee and doughnut chain Tim Hortons (NYSE: THI).

Kite Pharma (Nasdaq: KITE) reported upbeat results from an ongoing Phase 1-2a clinical trial of its non-Hodgkin's lymphoma treatment KTE-C19.

Second quarter earnings and revenue surpassed analyst expectations for DSW (NYSE: DSW) prompting the discount shoes retailer to lift its full year earnings outlook.

On the downside

Trina Solar (NYSE: TSL) swung to a profit for the second quarter but revenue fell short of analyst expectations.

Shares of Qihoo 360 Technology (NYSE: QIHU) extended its losses.

Best Buy (NYSE: BBY) reported sharply lower second quarter earnings as revenue fell.

In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 added 3 points to 2001. Bitcoin rose $5 to $508.

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