Higher Close As GDP Expands

Jobless claims rose more than expected last week but the nation's economy expanded at a greater than expected annual pace of 0.4% in the fourth quarter. The markets closed higher with the Dow climbing 52 points to 14,578 while Nasdaq gained 11 points to 3267.

On the upside

Signet Jewelers (NYSE: SIG) reported higher fourth quarter earnings and revenue that topped analyst estimates and increased its quarterly dividend.

Greenbrier (NYSE: GBX) announced the receipt of new orders for 5,400 railcars during the first three months of the year valued at approximately $575 million.

Gramercy Capital (NYSE: GKK) chief executive officer Gordon F. DuGan purchased 50,000 shares of company stock.

On the downside

Winnebago Industries (NYSE: WGO) reversed year ago losses to a profit for the second quarter but the stock price fell.

Blackberry (Nasdaq: BBRY) swung to a profit for the fourth quarter but the smartphone maker lost nearly 3 million subscribers.

Nokia (NYSE: NOK) must pay approximately $383 million in taxes to India.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 index gained 6 points to 1569.

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