The markets closed modestly higher with the Dow rising 8 points to 12,066 despite escalating violence Libya as the nation's economy expanded from the beginning of the year through early February. Nasdaq gained 10 points to 2748.

On the upside

Fourth quarter earnings fell for Shanda Games (Nasdaq: GAME) but the results topped analyst estimates.

McDermott International (NYSE: MDR) reported sharply lower fourth quarter earnings but also announced $700 million in new contracts.

B&G Foods (NYSE: BGS) reported fourth quarter earnings that surged to surpass analyst expectations.

On the downside