The markets opened sharply higher with the Dow soaring 151 points to 17,146 after the International Energy Agency said that crude oil prices may have fallen to their lowest level. Nasdaq surged 44 points to 4,706.
On the upside
Needham upgraded Vericel (Nasdaq: VCEL) from a Hold rating to a Buy rating.
The Food and Drug Administration approved Strata Skin Sciences' (Nasdaq: SSKN) PMA supplement for the MelaFind System.
Ulta Salon (Nasdaq: ULTA) reported higher fourth quarter earnings and revenue that surpassed analyst estimates and forecast current quarter results ahead of expectations.
On the downside
Stone Energy (NYSE: SGY) borrowed $385 million under Stone's Bank Credit Facility.
El Pollo Loco (Nasdaq: LOCO) reported higher fourth quarter earnings that topped estimates but the company forecast disappointing full year earnings.
Zumiez (Nasdaq: ZUMZ) reported lower fourth quarter earnings and revenue and forecast current quarter earnings that fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 11 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 climbed 17 points to 2,007. Bitcoin added $2 to $418.
