The markets traded modestly higher during the midday with the Dow rising 22 points to 13,413 as the nation's unemployment rate held steady. Nasdaq added 4 points to 3104. On the upside
Stifel Nicolaus upgraded Acme Packet (Nasdaq: APKT) to a Buy rating. Five Star Equities noted that the Food and Drug Administration approved more new drugs in 2012 compared with 2011 and issued a research report on Peregrine Pharmaceuticals (Nasdaq: PPHM). Harvest Natural Resources (NYSE: HNR) discovered oil at its Dussafu Tortue Marin-1 oil well off the coast of Gabon, West Africa. On the downside Silicon Image (Nasdaq: SIMG) lowered its revenue guidance for the fourth quarter.Coinstar (Nasdaq: CSTR) announced the retirement of chief executive Paul Davis effective March 31 and will be replaced by chief financial officer J. Scott Di Valerio. Barnes & Noble (NYSE: BKS) disappointed with a sharp 11% drop in holiday sales with its Nook business sales tumbling 13%. In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index gained 4 points to 1463.