Fed To Maintain Policy, Markets Rise

Federal Reserve chair Janet Yellen's comments that the Fed will maintain current monetary policy lifted the markets to a higher open with the Dow gaining 71 points to 15,873. Nasdaq climbed 19 points to 4167.

On the upside

Mallinckrodt will pay a premium of approximately $1.3 billion to acquire Cadence Pharmaceuticals (Nasdaq: CADX).

Sprint (NYSE: S) narrowed fourth quarter losses more than expected as revenue rose.

Lockheed Martin will use Ocean Power Technologies (Nasdaq: GALT) power buoys to construct the world's largest ocean wave energy power plant.

On the downside

Infoblox (NYSE: BLOX) reported preliminary second quarter revenue below analyst estimates and lowered its full year guidance prompting downgrades.

Investors locked in profits on Groupon (Nasdaq: GRPN).

Zoetis (NYSE: ZTS) swung to a better than expected profit for the fourth quarter but the company forecast 2014 revenue below estimates.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 rose 5 points to 1805. Bitcoin lost $10.39 or 1.79% to $581.94.

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