The markets traded modestly higher during the midday with the Dow gaining 12 points to 11,650 as earnings season began. Nasdaq added a point to 2708.
On the upside
Deutsche Bank upgraded Coeur d'Alene Mines (NYSE: CDE) to a Buy rating.
Deutsche Bank initiated coverage of Patriot Coal (NYSE: PCX) with a Buy rating.
Stryker (NYSE: SYK) reported higher fourth quarter revenue that beat analyst expectations and forecast full year results ahead of estimates.
On the downside
Cheesecake Factory (Nasdaq: CAKE) reported preliminary fourth quarter revenue that fell short of analyst expectations.
ClickSoftware Technologies (Nasdaq: CKSW) warned that fourth quarter results will fall short of estimates.
Constar International (Nasdaq: CNST) will restructure the company in order to improve its balance sheet.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 795.
