February 28, 2013 at 09:43 AM EST
Higher Open On Drop In Jobless Claims
A larger than expected drop in jobless claims lifted the markets to a modestly higher open with the Dow rising 9 points to 14,084. Nasdaq gained 13 points to 3175.
On the upside
Shares of Zogenix (Nasdaq: ZGNX) continued rising on optimism that the company's pain medication Zohydro would be approved by the Food and Drug Administration.
Boulder Brands (Nasdaq: BDBD) impressed with fourth quarter earnings that doubled to top analyst estimates prompting the company to lift its 2013 guidance.
Assured Guaranty (NYSE: AGO) reversed year ago losses to post to better than expected profit for the fourth quarter.
On the downside
Groupon (Nasdaq: GRPN) disappointed with an unexpected loss for the fourth quarter and forecast current quarter revenue below analyst estimates prompting downgrades.
J.C. Penney (NYSE: JCP) widened fourth quarter losses more than expected as revenue tumbled.
BroadSoft (Nasdaq: BSFT) reported lower fourth quarter earnings and forecast current quarter revenue that fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on both the NYSE and on Nasdaq. The broader S&P 500 index added 2 points to 1518.
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