The markets extended its gains with the Dow leaping 236 points to 15,897 as crude oil prices rose above $29 per barrel. Nasdaq surged 58 points to 4,324.
On the upside
American Axle & Manufacturing Holdings (NYSE: AXL) impressed with sharply higher fourth quarter earnings that surpassed expectations.
Rovi (Nasdaq: ROVI) reversed year ago losses to post a stronger than expected profit for the fourth quarter.
Shares of Freeport-McMoRan (NYSE: FCX) continued climbing.
On the downside
Select Comfort (Nasdaq: SCSS) fell to a loss for the fourth quarter as revenue dropped.
Shares of SunEdison (NYSE: SUNE) extended its losses.
Nu Skin Enterprises (NYSE: NUS) disappointed with lower earnings and revenue that missed expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 soared 28 points to 1,857. Bitcoin rose $4 to $385.