Higher Close Despite Disappointing Data

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The markets closed higher with the Dow gaining 63 points to 16,027 even as jobless claims rose and consumer spending fell. Nasdaq soared 39 points to 4240. 

On the upside 

Retrophin (Nasdaq: RTRX) will pay approximately $62.5 million to acquire Manchester Pharmaceuticals.

Fourth quarter earnings surged for Skechers (NYSE: SKX) to surpass analyst expectations by a wide margin.

Shares of Installed Building Products (NYSE: IBP) climbed on its first trading day.

On the downside


URS (NYSE: URS) warned that fourth quarter results would fall far short of previous guidance. 

Itron (Nasdaq: ITRI) fell to a loss for the fourth quarter prompting downgrades.

Support.com (Nasdaq: SPRT) reported higher fourth quarter earnings but company president and chief executive officer Josh Pickus announced his resignation effective April 1, 2014.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 climbed 10 points to 1829. Bitcoin plunged $122.26 or 26.73% to $457.52.

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This page contains a single entry by published on February 13, 2014 1:49 PM.

Markets Advance Even As Jobless Claims Rise was the previous entry in this blog.

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