Markets Advance On Strong Earnings


The markets traded higher during the midday with the Dow climbing 40 points to 16,219 on strong retail earnings. Nasdaq gained 18 points to 4306. 

On the upside 

ChinaNet Online Holdings (Nasdaq: CNET) was nominated as a candidate for the China Center for Promotion of SME Development's 2013 Preferred Service Provider for China Small and Medium-sized Enterprises award.

JAKKS Pacific (Nasdaq: JAKK) narrowed fourth quarter losses.

Fourth quarter earnings fell for Abercrombie & Fitch (NYSE: ANF) but the results were better than expected.

On the downside

DigitalGlobe (NYSE: DGI) reported lower fourth quarter earnings and announced the acquisition of Spatial Energy. 

UTi Worldwide (Nasdaq: UTIW) warned that it would report a loss for the fourth quarter and will issue $350 million worth of senior convertible notes after falling out of compliance with some debt covenants.

Clean Harbors (NYSE: CLH) disappointed with lower fourth quarter earnings that fell short of analyst expectations, forecast current quarter results below estimates and cut its full year guidance.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 rose 3 points to 1848. Bitcoin gained $44.54 or 8.34% to $578.50.

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This page contains a single entry by published on February 26, 2014 11:08 AM.

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