The Dow extended its gains during the midday with the blue chip index climbing 75 points to 16,103. Nasdaq slipped 3 points to 4236.
On the upside
Cray (Nasdaq: CRAY) impressed with sharply higher fourth quarter earnings that surged more than threefold to surpass analyst expectations by a wide margin as revenue soared.
PhotoMedex will pay a premium of approximately $106.4 million in cash to acquire LCA-Vision (Nasdaq: LCAV).
Ingram Micro (NYSE: IM) reported higher fourth quarter earnings and revenue that topped analyst estimates.
On the downside
Shares of Galena Biopharma (Nasdaq: GALE) extended its losses.
Chegg (NYSE: CHGG) fell to a loss for the fourth quarter even as revenue climbed.
Silvercorp Metals (NYSE: SVM) disappointed with lower third quarter earnings and slashed its quarterly dividend.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 rose 4 points to 1834. Bitcoin dropped $18.00 or 4.03% to $447.11.
