The markets traded higher during the midday with the Dow gaining 53 points to 12,224 after an upward revision of the nation's fourth quarter gross domestic product. Nasdaq rose 10 points to 2747.
On the upside
Shares of ServiceSource (Nasdaq: SREV) surged in its market debut.
Fourth quarter earnings topped analyst estimates for Wet Seal (Nasdaq: WTSLA) and the teen apparel retailer forecast strong current quarter earnings
Wells Fargo Securities initiated coverage of Belo (NYSE: BLC) with an Outperform rating.
On the downside
Although fourth quarter earnings rose for Embraer (NYSE: ERJ), full year results dropped.
Darden Restaurants (NYSE: DRI) reported higher third quarter earnings that topped analyst estimates as revenue rose but the company warned of higher energy expenses and increased commodity prices in 2012.
The Patent Office issued a non-final action, which is similar to a rejection, of a re-examination request for SWM's (NYSE: SWM) patent number 6,725,867.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 827.
