Higher Close As Jobless Claims Drop

The markets advanced to close higher with the Dow gaining 58 points to 13,252 as first time applications for unemployment benefits dropped to a four year low. Nasdaq climbed 15 points to 3056.

On the upside

Shares of Amarin (Nasdaq: AMRN) continued rising over optimism that the biopharmaceutical's cardiovascular disease treatment AMR-101 will receive a patent and be approved by the Food and Drug Administration.

USG (NYSE: USG) commenced a $300 million cash tender offer for its outstanding 9.75% senior notes due 2014.

az magazine named US Airways (NYSE: LCC) one of the Top 25 Workplaces for Women.

On the downside

Flamel Technologies (Nasdaq: FLML) fell to a loss for the fourth quarter and announced that it will acquire Eclat Pharmaceuticals.

AmeriGas (NYSE: APU) will offer 7 million common units through a registered public offering.

Shares of Pacific Sunwear (Nasdaq: PSUN) continued falling after reporting a wider fourth quarter loss yesterday.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 831.

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