ECB begins buying bonds, markets close higher

The markets closed sharply higher with the Dow soaring 138 points to 17,995 as the European Central Bank began buying bonds. Nasdaq rose 15 points to 4,942.

On the upside

Sterling Construction (Nasdaq: STRL) named Paul J. Varello to the position of chief executive officer.

FBR Capital Markets upgraded UTi Worldwide (Nasdaq: UTIW) from a Market Perform rating to an Outperform rating and lifted its price target from $11 to $19.

Shares of Westport Innovations (Nasdaq: WPRT) rose ahead of its earnings release after market close.

On the downside

BioScrip (Nasdaq: BIOS) will offer $20 million worth of preferred stock and warrants.

Midstates Petroleum (NYSE: MPO) interim president and chief executive officer Dr. Peter J. Hill resigned.

Sky-mobi (Nasdaq: MOBI) reported higher fourth quarter earnings and revenue but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 gained 8 points to 2079. Bitcoin climbed $12 to $285.