The markets closed sharply higher with the Dow surging 126 points to 16,154 despite a drop in factory production as investors welcomed a 0.2% gain in export prices. Nasdaq added 3 points to 4244. 

On the upside 

Bankrate (NYSE: RATE) fell to a loss for the fourth quarter but the results were better than expected.

Fourth quarter earnings fell for Ellie Mae (NYSE: ELLI) but revenue rose to top analyst estimates and the company forecast 2014 revenue ahead of expectations.

Fonar (Nasdaq: FONR) reported sharply higher second quarter earnings as revenue surged.

On the downside

Agilent Technologies (NYSE: A) reported higher first quarter earnings but the company lowered its full year earnings outlook. 

Investors locked in profits on Gogo (Nasdaq: GOGO).

Profit taking weighed down shares of Zillow (Nasdaq: Z).

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 gained 8 points to 1838. Bitcoin dropped $54.23 or 13.20% to $410.88.