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Stocks Close Higher on Positive Economic Data

The major indices finished higher for the week even though the Dow slipped a point to close at 12,982. Investors were mostly optimistic about a higher consumer sentiment reading even though higher oil prices may temper economic growth. Nasdaq climbed 6 points at 2963.

On the upside

Proto Labs (Nasdaq: PRLB) surged 80% higher on its first day of trading. The custom parts manufacturer raised $70 million at $16 a share, then closed at $29 a share.

Bazaarvoice (NYSE: BV) became the latest social media company to make a successful debut. The social media platform for businesses raised $114 million and climbed more than 40%.

Oil-related stocks rose along with higher oil prices. Shares of Chevron Corporation (NYSE: CVX) and Royale Energy (Nasdaq: ROYL) climbed higher.

On the downside

Shares of Marvel Technology (Nasdaq: MARV) fell after the chip maker posted lower profits and warned about its outlook.

Cobra Electronics (Nasdaq: COBR) reported higher 4th quarter sales and profits that were hurt by a customer unexpectedly filing for bankruptcy.

Celldex Therapeutics (Nadaq: CLDX) filed to sell 10.5 million shares at $3.85 a share, and the price of the stock promptly followed suit.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE while being outpaced by a margin of 4 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks closed at 826, down 2 points.

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