Mid-Morning Market Update: Markets Rise; Comtech Posts Upbeat Results

Following the market opening Friday, the Dow traded up 0.20 percent to 15,026.53 while the NASDAQ gained 0.48 percent to 3,792.41. The S&P also rose, surging 0.29 percent to 1,683.57.

Yesterday, Comtech Telecommunications

reported upbeat fiscal fourth quarter results and issued a strong full-year outlook. Comtech's quarterly earnings fell to $5.2 million, or $0.28 per share, from $7.9 million, or $0.38 per share, in the year-ago quarter. However, analysts were expecting earnings of $0.21 per share. Its revenue declined to $84.4 million from $112.8 million. For its 2014 fiscal year, Comtech projects to earn $1.07 to $1.19 per share on revenue of $320 million to $340 million. Analysts estimated earnings of $1.04 per share.

Harte-Hanks

shot up 6.51 percent to $8.51 after BMO Capital upgraded the stock from Market Perform to Outperform. Shares of Moneygram International

got a boost, shooting up 5.97 percent to $19.52 after analysts at

the stock from Neutral to Buy. Facebook

was also up, gaining 1.52 percent to $49.93. Facebook's Instagram reported that it will introduce advertisements in the coming months. Sterne Agee raised the price target on the stock from $50.00 to $58.00.

Shares of Aaron's

were down 4.12 percent to $26.52 after the company lowered its Q3 outlook. Lannett Company

shares tumbled 11.04 percent to $18.62 after the company priced an underwritten public offering of 5,869,566 shares of common stock at a price of $18.00 per share. CSX

was down, falling 2.02 percent to $25.16 after Citigroup downgraded downgraded the stock from Buy to Neutral.

In commodity news,

to $104.02, while gold traded up 0.05 percent to $1,318.20. Silver traded down 0.12 percent Friday to $21.76, while copper rose 1.30 percent to $3.31.

European shares

today. The Spanish Ibex Index rose 0.87 percent, while Italy's FTSE MIB Index surged 1.38 percent. Meanwhile, the German DAX rose 0.03 percent and the French CAC 40 climbed 0.74 percent while U.K. shares gained 0.18 percent.

On the economics calendar Friday, there is no important data due out.