The nation's trade deficit narrowed more than expected in December to boost the markets to a higher open with the Dow gaining 67 points to 14,011. Nasdaq climbed 27 points to 3192.
On the upside
Oncolytics Biotech (Nasdaq: ONCY) reported positive results from a midstage clinical trial of its lung cancer treatment Reolysin.
Activision Blizzard (Nasdaq: ATVI) reported sharply higher fourth quarter earnings and revenue that topped analyst estimates.
LinkedIn (NYSE: LNKD) reported higher fourth quarter earnings that surpassed analyst expectations by a wide margin as revenue surged.
On the downside
Nuance Communications (Nasdaq: NUAN) fell to a loss for the first quarter and forecast full year results below expectations prompting downgrades.
EnteroMedics (Nasdaq: ETRM) reported disappointing results from a Phase III study of its implantable weight loss device VBLOC.
Fourth quarter earnings tumbled for Riverbed Technology (Nasdaq: RVBD) due to acquisition related costs and the network gear maker forecast current quarter earnings below expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index gained 7 points to 1517.