Strong Holiday Sales Boost Markets

A strong 3.8% increase in holiday sales boosted the markets during the midday with the Dow gaining 80 points to 16,338. Nasdaq climbed 59 points to 4173.

On the upside

Bank of America upgraded Thompson Creek Metals (NYSE: TC) from a Neutral rating to a Buy rating and lifted its price target from $3 to $7.

Tesla (Nasdaq: TSLA) sold and delivered more Model S sedans in the fourth quarter than expected.

Nomura Securities said that Canadian Solar (Nasdaq: CSIQ) was an unappreciated gem.

On the downside

Shares of Intercept Pharmaceuticals (Nasdaq: ICPT) extended its losses.

RAIT Financial Trust (NYSE: RAS) priced its public offering of 10 million common shred at the discounted price of $8.52 per share.

RBC Capital Markets initiated coverage of 3E Systems (NYSE: DDD) with an Outperform rating and a $118 price target but earnings concerns weighed down the stock price.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 climbed 15 points to 1834. Bitcoin slipped $11.70 or 1.27% to $922.00.

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