Jobless Claims Drop, Markets Surge

The markets surged to a sharply higher close with the Dow rocketing 188 points to 15,628 as jobless claims fell more than expected. Nasdaq leaped 45 points to 4057.

On the upside

USG (NYSE: USG) narrowed fourth quarter losses more than expected as revenue climbed.

Multiple jurisdictions have approved Prima Biomed's (Nasdaq: PBMD) amended CAN-004 clinical trial protocol.

Maximus (NYSE: MMS) reported sharply higher first quarter earnings and revenue that beat analyst expectations prompting the company to lift its full year outlook.

On the downside


Gravity Research initiated coverage of Montage Technology Group (Nasdaq: MONT) with a Strong Sell rating.

Affymetrix (Nasdaq: AFFX) swung to a profit for the fourth quarter but the results fell short of analyst expectations.

Fourth quarter earnings fell for Shutterfly (Nasdaq: SFLY) and the company forecast a greater than expected loss for the first quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 soared 21 points to 1773. Bitcoin tumbled $105.00 or 12.76% to $823.00.

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