Dow Sets Another Record As Jobless Claims Fall

A drop in jobless claims lifted the markets to a modestly higher close with the Dow rising 33 points to close at a record 14,329. Nasdaq gained 9 points 3232.

On the upside

Shares of Artisan Partners Asset Management (NYSE: APAM) surged in its market debut.

Immersion (Nasdaq: IMMR) announced a multi year agreement to license its Touchsense and Integrator solutions to Samsung Electronics.

Smithfield Foods (NYSE: SFD) reported higher third quarter earnings that beat expectations as revenue rose.

On the downside

Ross Stores (Nasdaq: ROST) disappointed with an unexpected 1% drop in February same store sales.

Quanex Building Products (NYSE: NX) widened first quarter losses more than expected as expenses climbed.

Time Warner (NYSE: TWX) will spin-off its Time Inc. publishing business rather than sell some of its magazines to Meredith (NYSE: MDP).

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index added 2 points to 1544.

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