Sales Rise, Markets Soar

December retail sales edged up 0.2% while holiday sales climbed 3.8% to send the markets soaring to a sharply higher close with the Dow surging 115 points to 16,373. Nasdaq jumped 69 points to 4183.

On the upside

Dana Holding (NYSE: DAN) reported preliminary 2013 revenue above analyst expectations.

Bloomberg reported that Teva (NYSE: TEVA) did not infringe on six patents held by Purdue regarding Oxycontin.

Goldman Sachs upgraded Jabil Circuit (NYSE: JBL) from a Neutral rating to a Conviction Buy rating.

On the downside

Investors locked in profits on NII Holdings (Nasdaq: NIHD).

Aviat Networks (Nasdaq: AVNW) cut its second quarter revenue guidance and announced plans to lower expenses.

Silicon Graphics (Nasdaq: SGI) warned of losses for the second quarter as revenue dropped.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 3 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 soared 19 points to 1838. Bitcoin slipped $9.70 or 1.05% to $924.00.

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