Sharply Higher Close As Payrolls Revised Upward
February 01, 2013 at 08:50 AM EST
The nation’s unemployment rate edged up to 7.9% in January from 7.8% last month but monthly payrolls in November and December were revised upward. The markets closed sharply higher with the Dow jumping 149 points to 14,009. Nasdaq soared 36 points to 3179. On the upsideShares of animal medicine company Zoetis (NYSE: ZTS) surged in its market debut.PMC-Sierra (Nasdaq: PMCS) reported lower fourth quarter earnings but the results were better than expected.Otelco (Nasdaq: OTT) amended and extended the terms of its senior financing.On the downsideProfit taking sank shares of Keryx Biopharmaceuticals (Nasdaq: KERX). Brightcove (Nasdaq: BCOV) narrowed fourth quarter losses more than expected but the company forecast current quarter results below analyst expectations prompting a downgrade.Emulex (NYSE: ELX) disappointed with sharply lower second quarter earnings as revenue fell and the data storage equipment maker forecast current quarter results that missed analyst expectations.In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index climbed 15 points to 1513.
