Trade Deficit Narrows, Markets Open Higher

The nation's trade deficit narrowed more than expected in December to boost the markets to a higher open with the Dow gaining 67 points to 14,011. Nasdaq climbed 27 points to 3192.

On the upside

Oncolytics Biotech (Nasdaq: ONCY) reported positive results from a midstage clinical trial of its lung cancer treatment Reolysin.


Activision Blizzard (Nasdaq: ATVI) reported sharply higher fourth quarter earnings and revenue that topped analyst estimates.


LinkedIn (NYSE: LNKD) reported higher fourth quarter earnings that surpassed analyst expectations by a wide margin as revenue surged.


On the downside


Nuance Communications (Nasdaq: NUAN) fell to a loss for the first quarter and forecast full year results below expectations prompting downgrades.


EnteroMedics (Nasdaq: ETRM) reported disappointing results from a Phase III study of its implantable weight loss device VBLOC.

Fourth quarter earnings tumbled for Riverbed Technology (Nasdaq: RVBD) due to acquisition related costs and the network gear maker forecast current quarter earnings below expectations.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index gained 7 points to 1517.

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