Higher close despite rise in jobless claims

First time applications for unemployment benefits rose more than expected last week and crude oil prices slipped below $32 per barrel but the markets closed higher with the Dow climbing 79 points to 16,416. Nasdaq added 5 points to 4,509.

On the upside

KLR Group upgraded Atwood Oceanics (NYSE: ATW) from a Hold rating to an Accumulate rating.

Weatherford International (NYSE: WFT) reported a smaller than expected loss for the fourth quarter and announced plans to eliminate 6,000 jobs.

Tidewater (NYSE: TDW) narrowed losses for the third quarter.

On the downside

ConocoPhillips (NYSE: COP) widened losses for the fourth quarter and slashed its quarterly cash dividend.

Stifel downgraded Synchronoss Technologies (Nasdaq: SNCR) from a Buy rating to a Hold rating.

SPS Commerce (Nasdaq: SPSC) reported higher fourth quarter earnings that topped analyst estimates but the company forecast current quarter as well as full year revenue 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 2 points to 1,915. Bitcoin surged $19 to $387.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.