Yellen's Reassurances Boost Markets

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Reassurances by new Federal Reserve chair Janet Yellen that current monetary policies would continue boosted the markets to a sharply higher close with the Dow jumping 192 points to 15,994. Nasdaq surged 42 points to 4191. 

On the upside 

Rising gold prices lifted shares of Harmony Gold (NYSE: HMY) and Gold Fields (NYSE: GFI).

The Patent Board ranked iRobot (Nasdaq: IRBT) #5 on its list of top patent portfolios in the electronics and instruments industry and #2 in the science strength category.

Ligand Pharmaceuticals (Nasdaq: LGND) reported sharply higher fourth quarter earnings that surpassed analyst expectations as revenue rose.

On the downside


Profit taking weighed down shares of YOU On Demand (Nasdaq: YOD). 

Zacks Equity Research wrote that GT Advanced Technologies (Nasdaq: GTAT) was overbought and the stock price would soon drop.

Several Ocwen Financial (NYSE: OCN) investors including BlackRock may file suit against the company for its mortgage servicing practices.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 soared 19 points to 1819. Bitcoin slipped $12.54 or 2.16% to $579.79.

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This page contains a single entry by published on February 11, 2014 2:08 PM.

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