Higher open as crude oil rises

The markets opened higher with the Dow gaining 55 points to 24,317 as crude oil prices rose. Nasdaq climbed 32 points to 7241.

On the upside

Gramercy Property Trust (NYSE: GPT) will be acquired by Blackstone Group (NYSE: BX) for a premium of approximately $7.6 billion in cash.

Elliott Management offered to buy Athenahealth (Nasdaq: ATHN) for a premium of approximately $7 billion in cash.

Rising crude oil prices lifted shares of Laredo Petroleum (NYSE: LPI).

On the downside

First quarter earnings for Tower Semiconductor (Nasdaq: TSEM) fell short of expectations.

Cognizant Technology Solutions (Nasdaq: CTSH) reported lower first quarter earnings and cut its full year forecast.

Retreating gold prices weighed down shares of Sibanye Gold (NYSE: SBGL).

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 rose 6 points to 2,669. Bitcoin plummeted $238 to $9,264.

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