Upbeat Economic Data Lifts Markets

Upbeat economic data lifted the markets to a sharply higher close with the Dow soaring 111 points to 14,559. Nasdaq climbed 17 points to 3252.

On the upside

Quicksilver Resources (NYSE: KWK) said that fourth quarter and full year earnings and revenue were higher than originally reported last month.

A federal jury found that LogMeIn (Nasdaq: LOGM) did not infringe on a 01 Communique patent.

MPG Office Trust (NYSE: MPG) founder Robert F. Maguire III will make a bid to acquire office buildings in Los Angeles that are owned by the trust.

On the downside

Gordmans Stores (Nasdaq: GMAN) reported lower fourth quarter earnings prompting a downgrade.

Molycorp (NYSE: MCP) chief technology officer John L. Burba Ph.D. departed the rare earth metals company.

Shares of PGT (Nasdaq: PGTI) continued falling after majority shareholder JLL Partners Fund IV filed paperwork last week for a possible sale of up to 35 million shares in the window and door maker.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index climbed 12 points to 1563.

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