February 22, 2013 at 17:19 PM EST
Sharply Higher Close On Upbeat Earnings
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.
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