GDP Rises More Than Expected, Markets Open Higher

The nation's economy grew at a greater than expected 0.4% pace to lift the markets to a higher open with the Dow rising 24 points to 14,550. Nasdaq eased a point to 3255.

On the upside

Repros Therapeutics (Nasdaq: RPRX) reported positive results from a first pivotal study of its secondary hypogonadism treatment Androxal.


Shares of Pinnacle Foods (NYSE: PF) soared in its market debut.

Cell Therapeutics (Nasdaq: CTIC) entered a loan agreement of up to $15 million from Hercules Technology Growth Capital (NYSE: HTGC).


On the downside


Tumi Holdings (NYSE: TUMI) priced its secondary offering of 10.14 million common shares at the discounted price of $21.10 per share.


RAIT Financial Trust (NYSE: RAS) increased its public offering to 8 million common shares and priced the offering at a discount of $7.87 per share.


PVH (NYSE: PVH) reported higher fourth quarter earnings but the company forecast 2013 earnings below expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 index edged up a fraction to 1563.

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