Markets Recover In Late Afternoon

The markets recovered in late afternoon trading to close higher with the Dow climbing 89 points to 16,262. Nasdaq rose 11 points to 4,034.

On the upside

NQ Mobile (NYSE: NQ) repurchased its stock in the aftermath of a sharp drop due to disappointing results.

Twitter (NYSE: TWTR) paid an undisclosed sum for data partner Gnip.

Splunk (Nasdaq: SPLK) introduced the Splunk App for VMware.

On the downside

Comverse (Nasdaq: CNSI) reported lower fourth quarter revenue that fell short of analyst expectations.

Arrowhead Research (Nasdaq: ARWR) extended its losses.

Zebra Technologies (Nasdaq: ZBRA) will fund its $3.45 billion cash acquisition of Motorola Solutions' enterprise business through new debt.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE while decliners edged out advancers by a slim margin of 10 to 9 on Nasdaq. The broader S&P 500 gained 12 points to 1842. Bitcoin rose $10.00 or 1.98% to $516.00.

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