Modestly Higher Close Ahead Of Yellen's Testimony

The markets closed modestly higher with the Dow adding 7 points to 15,801 ahead of Federal Reserve chair Janet Yellen's first Congressional testimony tomorrow. Nasdaq gained 22 points to 4148.

On the upside

Kase Capital Management managing partner Whitney Tilson remarked that magicJack VocalTec (Nasdaq: CALL) had the potential to surge eightfold.

Barnes & Noble (NYSE: BKS) eliminated an unspecified number of jobs at its Nook unit in order to cut expenses.

Aegis lifted its price target on Galectin Therapeutics (Nasdaq: GALT) from $16 to $32.

On the downside

A Food and Drug Administration investigator recommended against approving The Medicines Company's (Nasdaq: MDCO) blood clot prevention drug Cangrelor.

Orbitz Worldwide (NYSE: OWW) partnered with Amadeus improve the user experience of its online and mobile travel sites but the stock price fell.

ACI Worldwide (Nasdaq: ACIW) warned that full year 2013 earnings and revenue would fall short of previous guidance.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 added 2 points to 1799. Bitcoin lost $59.35 or 9.96% to $595.75.

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