Markets Advance As Jobless Claims Fall


The markets advanced during the midday with the Dow soaring 116 points to 16,157 as jobless claims fell last week. Nasdaq gained 26 points to 4264. 

On the upside 

Sony (NYSE: SNE) will use MicroVision's (Nasdaq: MVIS) PicoP technology in a new pico projector module.

United Online (Nasdaq: UNTD) widened fourth quarter losses.

AVG Technologies (NYSE: AVG) reported sharply higher fourth quarter earnings that surpassed analyst expectations by a wide margin.

On the downside

Millennial Media (NYSE: MM) fell to a loss for the fourth quarter and forecast current quarter revenue below expectations. 

Onconova Therapeutics (Nasdaq: ONTX) reported disappointing results from a Phase 3 ONTIME trial of rigosertib in patients with higher risk myelodysplastic syndromes.

Blackhawk Network Holdings (Nasdaq: HAWK) reported higher fourth quarter earnings but the results fell short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 climbed 11 points to 1840. Bitcoin plunged $147.10 or 128.89% to $114.13.

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