A greater than expected drop in first time applications for unemployment benefits lifted the markets to a higher open with the Dow gaining 65 points to 16,425. Nasdaq added 3 points to 4361.
On the upside
Pixelworks (Nasdaq: PXLW) disclosed that sales to Apple (Nasdaq: AAPL) accounted for more than 10% of its revenue.
The first clinical study of Sangamo Biosciences’ (Nasdaq: SGMO) zinc finger nuclease-based genome editing technology in humans was published in the New England Journal of Medicine.
Porta Hnos signed a letter of intent to be the exclusive licensee of Gevo’s (Nasdaq: GEVO) GIFT technology in Argentina.
On the downside
Staples (Nasdaq: SPLS) reported higher fourth quarter earnings but the results fell short of expectations as revenue dropped and the office supplies retailer announce that it will close 225 stores.
Dot Hill Systems (Nasdaq: HILL) swung to a profit for the fourth quarter as revenue rose but the results fell short of analyst expectations.
The Children’s Place (Nasdaq: PLCE) reported lower fourth quarter earnings as revenue slipped and forecast current quarter earnings below expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 added 4 points to 1878. Bitcoin lost $12.43 or 1.88% to $647.00.
