Markets Up On Upbeat Jobs Data

The markets traded higher during the midday with the Dow gaining 44 points to 14,341 on an upbeat jobs report. Nasdaq added 7 points 3230.

On the upside

Sycamore Partners will pay a premium of approximately $600 million to take Hot Topic (Nasdaq: HOTT) private.

Shares of Himax Technologies (Nasdaq: HIMX) rose again over speculation that the company will provide microdisplays for Google Glass (Nasdaq: GOOG).

Bargain hunters lifted shares of Affymax (Nasdaq: AFFY), whose stock price has fallen since the biopharmaceutical recalled its anemia medication Omontys on Saturday, February 23.

On the downside

PetSmart (Nasdaq: PETM) reported higher fourth quarter earnings and revenue but the company forecast 2013 earnings below analyst expectations.

Radian Group (NYSE: RDN) reported lower mortgage delinquencies in February but the stock price fell.

SolarCity (Nasdaq: SCTY) fell to a greater than expected loss for the fourth quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 index rose 3 points to 1544.

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