Better than expected corporate earnings sent the markets soaring to a sharply higher close with the Dow leaping 119 points to 14,000 as investors embraced upbeat corporate earnings. Nasdaq surged 30 points to 3161.
On the upside
AVG Technologies (NYSE: AVG) swung to a profit for the fourth quarter as revenue soared.
Onyx Pharmaceuticals (Nasdaq: ONXX) fell to a smaller than expected loss for the fourth quarter.
Charter Communications (Nasdaq: CHTR) narrowed fourth quarter losses.
On the downside
CoreLogic (NYSE: CLGX) reported higher fourth quarter earnings and revenue but the stock price dropped.
Agrium (NYSE: AGU) reported sharply higher fourth quarter revenue and earnings but Dahlman Rose downgraded the company from a Buy rating to a Sell rating.
Fourth quarter earnings plunged for Merit Medical Systems (Nasdaq: MMSI) to fall short of analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index climbed 13 points to 1515.
KUTV CBS 2 provides local news, weather forecasts, traffic updates, notices of events and items of interest in the community, sports and entertainment programming for Salt Lake City and nearby towns and communities in the Great Salt Lake area, including Jordan Meadows, Millcreek, Murray, Holladay, Kearns, West Valley City, West Jordan, South Jordan, Sandy, Draper, Riverton, Bluffdale, Merriman, Magna, Bountiful, Centerville, Cottonwood Heights, Alpine, Highland, Summit Park, Park City, Beber City, Grantsville, Farmington, Kayville, Layton, Syracuse, Clearfield, Morgan, Roy, Ogden, American Fork, Orem, Provo, Springville, Spanish Fork, Payson, Nephi, and Tooele.