Retail sales fell in January due to lower gas prices. The markets opened higher with the Dow gaining 70 points to 17,933 while Nasdaq climbed 37 points to 4,838.
On the upside
Expedia (Nasdaq: EXPE) will acquire Orbitz Worldwide (NYSE: OWW) in a deal valued at approximately $1.6 billion.
TripAdvisor (Nasdaq: TRIP) reported higher fourth quarter earnings as revenue soared to beat analyst expectations.
Cisco Systems (Nasdaq: CSCO) reported higher second quarter earnings and revenue that surpassed analyst expectations.
On the downside
Fourth quarter earnings and revenue rose for zulily (Nasdaq: ZU) but the results fell short of analyst expectations and the retailer forecast current quarter and full year revenue below estimates.
Tesla (Nasdaq: TSLA) widened losses more than expected for the fourth quarter as revenue missed estimates.
Cheesecake Factory (Nasdaq: CAKE) disappointed with lower fourth quarter earnings that missed analyst expectations by a wide margin prompting a downgrade.
In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 climbed 13 points to 2082. Bitcoin edged up a fraction to $218.
Retail sales fall but markets open higher
February 12, 2015 at 09:43 AM EST