Despite a greater than expected increase in first time applications for unemployment benefits, the markets advanced during the midday with the Dow adding 11 points to 15,975. Nasdaq gained 16 points to 4217.
On the upside
Ctrip (Nasdaq: CTRP) reported higher fourth quarter earnings and revenue that topped analyst estimates.
Ladenburg Thalmann upgraded Genetic Technologies (Nasdaq: GENE) from a Neutral rating to a Buy rating.
Orbitz Worldwide (NYSE: OWW) swung to a better than expected profit for the fourth quarter as revenue rose.
On the downside
Angie's List (Nasdaq: ANGI) reported higher fourth quarter earnings but the results fell short of analyst expectations prompting a downgrade.
Fourth quarter earnings and revenue rose for Cabela's (NYSE: CAB) but the results missed estimates and the specialty retailer forecast current quarter and full year earnings below expectations.
A Food and Drug Administration advisory committee recommended against approving a drug application by The Medicines Co. (Nasdaq: MDCO) for its anti platelet agent cangrelor.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 added 3 points to 1822. Bitcoin tumbled $96.58 or 19.99% to $483.21.
