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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