Unemployment Rate Drops, Markets Open Higher

The nation's unemployment rate dropped to 7.7% to lift the markets to a higher open with the Dow gaining 29 points to 14,358. Nasdaq slipped a point to 3231.

On the upside

Pandora Media (NYSE: P) reported a smaller than expected loss for the fourth quarter as revenue climbed to top analyst estimates and announced the departure of chief executive Joe Kennedy.


J.P. Morgan upgraded Navistar (NYSE: NAV) from a Neutral rating to an Overweight rating and lifted its price target from $23 to $45.


The Federal Trade Commission approved Tempur-Pedic's (NYSE: TPX) $1.3 billion acquisition of Sealy (NYSE: ZZ).


On the downside


Skullcandy (Nasdaq: SKUL) reported lower fourth quarter earnings that missed estimates and warned of losses for the current quarter prompting downgrades.


Sequenom (Nasdaq: SQNM) widened fourth quarter losses more than expected.


BankUnited (NYSE: BKU) priced its secondary offering of 19.6 million common shares at the discounted price of $25.25.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 index eased a point to 1543.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here