Financial News

Markets Soar As Economy Expands

Upbeat earnings and strong economic growth in the fourth quarter sent the markets soaring during the midday with the Dow surging 144 points to 15,883. Nasdaq leaped 78 points to 4129. 

On the upside 

Geron (Nasdaq: GERN) priced its public offering of 22.5 million common shares at the discounted price of $4.00 per share but the stock price rose.

Infinera (Nasdaq: INFN) narrowed fourth quarter losses more than expected as revenue rose.

Pitney Bowes (NYSE: PBI) reported lower fourth quarter earnings but the results topped analyst estimates.

On the downside

Fourth quarter earnings rose for NeuStar (NYSE: NSR) but the company forecast 2014 earnings that fell short of analyst expectations. 

ITT Educational Services (NYSE: ESI) widened losses for the fourth quarter even as new student enrollment rose.

Weatherford International (NYSE: WFT) warned that fourth quarter and full year earnings would fall short of previous guidance.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 soared 22 points to 1796. Bitcoin added $12.16 or 1.28% to $946.20.

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