Opening Bell Report

The markets opened sharply higher following news that retail sales unexpectedly rose in January. The Dow surged 111 points to 12,485 while Nasdaq leaped 32 points to 2352.

On the upside

Coca-Cola (NYSE:KO) posted higher revenues and earnings that beat estimates. Shares of the world's largest beverage producer and a Dow component rose.

Shares of another Dow component Deere & Company (NYSE: DE) rose after the agricultural equipment maker posted higher earnings that exceeded forecasts.

Shares of First Solar (Nasdaq: FSLR) surged after the solar panel maker reported 4th quarter profits that beat expectations. Analysts promptly upgraded the stock.

On the downside

Wynn Resorts (Nasdaq: WYNN) posted a profit for the 4th quarter versus a year-ago loss, but the company warned of a slowing U.S economy impacting the casino industry.

Shares of Blue Nile (Nasdaq: NILE) tumbled after the online jewelry retailer posted higher 4th quarter profits while issuing a disappointing outlook.

Vehicle remanufacturing and logistics company Aftermarket Technology (Nasdaq: ATAC) lowered its profit targets for 2008.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 709.

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