After Market: Banks, Tech and Retail Power a Rebound

Stocks on Tuesday recouped a big chunk of their losses from Monday, thanks to solid earnings reports from two leading banks, and big moves by some technology leaders. JPMorgan Chase (JPM) edged higher and Wells Fargo's (WFC) share price was little changed -- but their slightly better-than-expected quarterly numbers set a positive tone. And a government report showing a solid retail sales gain in December also helped.

The Dow Jones industrial average (^DJI) rose 116 points, snapping a four day losing streak. The Standard & Poor's 500 index (^GPSC) gained 19 points, and the Nasdaq composite (^IXIC)
rallied 69, closing at its highest level in 13 years, led by some of the biggest names in tech.

Intel (INTC) jumped 4 percent after a JPMorgan upgrade to "overweight." Microsoft (MSFT) gained more than 2 percent.
Google (GOOG) rose 2.5 percent after it agreed to buy startup Nest, which makes smart home thermostats and fire detectors controlled through the Internet, for $3.2 billion.

Also helping the Nasdaq, a 15 percent jump by Tesla (TSLA), which posted better-than-expected sales in the fourth quarter. It also issued a battery "Fix," which it insisted was not a recall. Telsa shares are up 384 percent over the past 365 days.

Biotech rebounded from some recent weakness. Regeneron (REGN) jumped 12 percent. It's developing a new treatment for macular degeneration with Bayer. Biogen (BIIB) gained 5 percent.

Elsewhere, Time Warner Cable (TWC) rose nearly 3 percent to well above the takeover price offered by Charter Communications (CHTR). Time Warner rejected the bid, so investors obviously expect Charter or someone else to come in with a higher offer. Charter gained more than 2 percent.

Pfizer (PFE) rose 1.5 percent as bidders line up to buy all or parts of its generic drug business. Three firms are being mentioned as potential bidders: U.K.-based GW Pharma (GWP), which rose 2.5 percent, Vivus (VVUS), which gained 4.5 percent, and Valeant (VRX), which rose 3 percent.

Intercept Pharmaceuticals (ICPT) was a big mover for the fourth day in a row. It lost 29 percent on the day, but it's still up 260 percent over the past week.

And the retailer GameStop (GME) tumbled 20 percent. It released disappointing results for the holiday period, and issued a weak outlook.

What to Watch Wednesday:
  • The Labor Department releases the Producer Price Index for December at 8:30 a.m. Eastern time. The Federal Reserve releases its Beige Book survey of regional economic conditions at 2 p.m.
These major companies are due to release quarterly financial statements: -Produced by Drew Trachtenberg.

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skcarcomed_0

irqhide
No. Just on my investments. I make enough to live on with that, hence the "I don't have to work anymore" comment. If I included my salary I've probably made 5 months of your income in two weeks.

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All in your land of make be-LIE-ve, right Skippy?

January 15 2014 at 12:21 AM Report abuse -1 rate up rate down Reply
skcarcomed_0

irqhide
Sorry son, that's incorrect. I meant I've made three MONTHS of your salary in the last two weeks.

Man, I need to go to sleep.

Night kid.


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So this time it's finally lights out at the pen. for you. You're not pretending now are you Skippy? LOL. Skippy is such an amusing little fellow.

January 15 2014 at 12:19 AM Report abuse -1 rate up rate down Reply
skcarcomed_0

irqhide
Son, do you have ANY idea how many times I've been to Vegas?

I know for you, it might be a "special" occasion. But for me, I'm just trying to stay up to something that resembles a reasonable hour, for this time zone.

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How about you post how many times you "pretended" to be in Vegas in your land of make
be-LIE-ve.

January 15 2014 at 12:04 AM Report abuse -1 rate up rate down Reply
skcarcomed_0

Old Skippy is such a whiny little fellow in his land of make be-LIE-ve.

January 15 2014 at 12:01 AM Report abuse -1 rate up rate down Reply
skcarcomed_0

irqhide
Nope. That's just the way the numbers come out here on DF.

Come on son, I KNOW you aren't that slow.

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You're whiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiining again Skippy.

January 14 2014 at 11:59 PM Report abuse -1 rate up rate down Reply
skcarcomed_0

irqhide
That's a stupid thing to write. Even for you.

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He just wanted to be like you Skipperooooooooooooooooooo

January 14 2014 at 11:54 PM Report abuse -2 rate up rate down Reply
skcarcomed_0

irqhide
I did. When I was YOING.

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Skipper with you being on a 4th grade level as you posted, you should do a little better with your spelling. Or you could pretend to like you do everything else.

January 14 2014 at 11:49 PM Report abuse -2 rate up rate down Reply
skcarcomed_0

Old Skippy is such a downer. Always whining and complaining. I wish he could pretend to be happy. Poor little fellow.

January 14 2014 at 11:43 PM Report abuse rate up rate down Reply
skcarcomed_0

irqhide
Oh, "yo" is probably gonna trip you up.

That's YOU, just didn't hit the "u" con la fuerza suficiente.

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Skippy isn't it lights out at the pen. for you? It's nice of the guards to let you play on the keyboard for a little while longer.

January 14 2014 at 11:42 PM Report abuse rate up rate down Reply
skcarcomed_0

irqhide
Thanks. Listen, your buddy is CRAVING some attention. Would yo help him out.

I fear he may cry soon if no one looks at him. Be a good kid, and hook up a likeminded shut-in, would ya?


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Skippy do you cry, whine and complain when your cellmate doesn't look at you? Poor little fellow. You're lonely aren't you old Skippy.

January 14 2014 at 11:39 PM Report abuse -1 rate up rate down Reply