Testimony by Federal Reserve chair Janet Yellen that interest rates would remain low lifted the markets during the midday with the Dow climbing 86 points to 18,203. Nasdaq held steady at 4,961.
On the upside
Chegg (NYSE: CHGG) reversed year ago losses to post a better than expected profit for the fourth quarter and announced plans for Ingram Content Group to manage its textbook rental business.
Chart Industries (Nasdaq: GTLS) reported higher fourth quarter earnings and revenue that surpassed analyst expectations.
Fourth quarter earnings for DepoMed (Nasdaq: DEPO) more than doubled as revenue surged.
On the downside
Daktronics (Nasdaq: DAKT) reported sharply lower third quarter earnings that fell short of analyst expectations.
DealerTrack Technologies (Nasdaq: TRAK) widened losses for the fourth quarter.
Worthington Industries (NYSE: WOR) warned of significantly lower third quarter earnings .
In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by more than 5 to 4 on Nasdaq. The broader S&P 500 added 3 points to 2113. Bitcoin held steady at $236.
Yellen testimony lifts markets
February 24, 2015 at 14:48 PM EST