Gain In Consumer Sentiment Lifts Markets To Higher Open
An unexpected increase in January consumer sentiment sent the markets soaring to a sharply higher open with the Dow leaping 135 points to 13,995. Nasdaq climbed 24 points to 3166.
On the upside
Rite Aid (NYSE: RAD) reported a 0.3% increase in same store sales in January due to flu related purchases.
Ctrip International (Nasdaq: CTRP) reported lower fourth quarter earnings but the results surpassed expectations prompting an upgrade.
Shares of Celsion (Nasdaq: CLSN) continued falling after reporting yesterday that treating liver cancer patients with ThermoDox failed a Phase III HEAT study.
On the downside
Echo Therapeutics (Nasdaq: ECTE) priced its public offering of approximately 13.33 million shares of common stock at the discounted price of $0.75 per share. Life Time Fitness (NYSE: LTM) reported preliminary fourth quarter results that fell short of analyst expectations and forecast 2013 results below estimates.
Tellabs (Nasdaq: TLAB) widened fourth quarter losses and forecast current quarter revenue below expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 index gained 12 points to 1510.
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