February 05, 2013 at 17:19 PM EST
Higher Close As Earnings Impress
Positive corporate earnings news lifted the markets to a sharply higher close with the Dow climbing 99 points to 13,979. Nasdaq leaped 40 points to 3171.
On the upside
Vishay Intertechnology (NYSE: VSH) reported lower fourth quarter earnings and revenue but the results were better than expected.
First quarter earnings fell for AECOM Technology (NYSE: ACM) but the results beat expectations.
Consumer Portfolio Services (Nasdaq: CPSS) reported sharply higher fourth quarter earnings due to a tax benefit.
On the downside
A Seeking Alpha contributor recommended that investors sell Diana Containerships (Nasdaq: DCIX).
Edwards Lifesciences (NYSE: EW) reported higher fourth quarter earnings but increased inventory stocking sales raised concerns that sales will drop over the next few quarters.
SolarWinds (NYSE: SWI) reported higher fourth quarter earnings and revenue that topped analyst estimates but valuation concerns sank the stock.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 index soared 15 points to 1511.
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