The markets advanced during the midday with the Dow gaining 79 points to 15,451 as the nation's deficit shrank. Nasdaq climbed 40 points to 4037.
On the upside
Furiex Pharmaceuticals (Nasdaq: FURX) reported positive results from a late stage study of its irritable bowel syndrome treatment eluxadoline.
Cowen Securities analysts Robert Stone and James Medvedeff affirmed their Outperform rating on Plug Power (Nasdaq: PLUG) saying that the fuel cell maker could become profitable by the end of 2014.
Fourth quarter earnings slipped for Yum! Brands (NYSE: YUM) but the results were better than expected.
On the downside
J.C. Penney (NYSE: JCP) reported a 2% gain in same store sales for the fourth quarter but analysts expected a much greated 4% increase.
Brown & Brown (NYSE: BRO) reported higher fourth quarter earnings and revenue but the results fell short of analyst estimates.
Oasis Petroleum (Nasdaq: AFOP) increased its production outlook for 2014 but the company also expects expenses to soar.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 climbed 13 points to 1755. Bitcoin lost $18.86 or 2.05% to $917.80.
