Higher Open As Jobless Claims Fall

First time applications for unemployment benefits fell more than expected to lift the markets to a higher open with the Dow climbing 48 points to 14,344. Nasdaq rose 3 points 3225.

On the upside

Ciena (Nasdaq: CIEN) narrowed first quarter losses more than expected as revenue rose.

A Seeking Alpha contributor listed Nokia (NYSE: NOK) as one of five inexpensive stocks under $10 poised to grow in 2013.

Navistar (NYSE: NAV) named president and chief operating officer Troy Clarke to the position of chief executive officer.

On the downside

Celldex Therapeutics (Nasdaq: CLDX) widened fourth quarter losses more than expected.

MGIC Investment (NYSE: MTG) priced its offering of 135 million common shares at the discounted price of $5.15 per share.

DryShips (Nasdaq: DRYS) widened losses for the fourth quarter more than expected as revenue dropped.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 index added 2 points to 1543.

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