Sharply higher close as GDP expands

The markets soared to close sharply higher with the Dow leaping 167 points to 17,113 as the nation's economy expanded at its fastest pace in 2 1/2 years. Nasdaq surged 45 points to 4,512.

On the upside

ChinaNet Online Holdings (Nasdaq: CNET) partnered with Alibaba's (NYSE: BABA) Taobao.

Vimicro International (Nasdaq: VIMC) conducted an investor event at its headquarters in Beijing.

Fourth quarter earnings for Micron Technology (Nasdaq: MU) topped analyst estimates as revenue soared.

On the downside

Pulse Electronics (NYSE: PULS) will delist from the New York Stock Exchange and deregister its stock under the Securities Exchange Act of 1934.

The Street Ratings affirmed its Sell rating on J.C. Penney (NYSE: JCP).

Highpower International (Nasdaq: HPJ) partnered with Energous to develop batteries with wire-free charging technology but the stock price fell.

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 16 points to 1982. Bitcoin slipped $6 to $400.
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