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Mixed Open As Gas Prices Jump

Consumer prices edged up a modest 0.2% in January but gas prices jumped 0.9%. The markets opened mixed with the Dow rising 15 points to 12,919 while Nasdaq lost 18 points to 2941.

On the upside

The European Medicines Agency's Committee for Medicinal Products for Human Use granted a positive opinion for conditional approval for Cell Therapeutics' (Nasdaq: CTIC) Pixuvri.


Achillion Pharmaceuticals (Nasdaq: ACHN) reported upbeat preclinical results for its Phase 2 pan-genotypic protease inhibitor ACH-1625.

First Solar (Nasdaq: FSLR) resolved a permit issue for its Antelope Valley Solar Ranch One plant.


On the downside


Gilead (Nasdaq: GILD) reported disappointing results from a trial of its hepatitis C treatment GS-7977.


General Mills (NYSE: GIS) lowered its full year guidance citing soft sales.

RealPage (Nasdaq: RP) reported break even results for the fourth quarter and forecast first quarter earnings that fell short of expectations.

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 a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 830.

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