Manufacturing Activity Rises Lifting Markets

The markets traded modestly higher during the midday with the Dow rising 21 points to 10,330 as manufacturing activity in the mid-Atlantic region rose. Nasdaq added 2 points to 2229.

On the upside

Fourth quarter earnings for Career Education (Nasdaq: CECO) topped analyst estimates.

Priceline.com (Nasdaq: PCLN) reported fourth quarter earnings that more than doubled to beat expectations.

UBS analyst Neil Currie said that Rite Aid (NYSE: RAD) may be a good acquisition target for some competing pharmacies.

On the downside

Fourth quarter earnings for O'Reilly Automotive (Nasdaq: ORLY) soared but revenue fell short of expectations.

Avis Budget Group (NYSE: CAR) narrowed fourth quarter losses but warned of continued weakness in the first half of 2010.

MGM Mirage (NYSE: MGM) narrowed losses for the fourth quarter but the results fell short of analyst estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 624

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