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GDP Expands 3.2%, Markets Open Higher

The nation’s economy expanded at a 3.2% rate in the fourth quarter to lift the markets to a higher open with the Dow climbing 83 points to 15,822. Nasdaq soared 58 points to 4109. 

On the upside 

Facebook (Nasdaq: FB) impressed with sharply higher fourth quarter earnings that surged eight fold to beat analyst expectations as mobile ad revenue soared.

Dassault Systemes will pay approximately $750 million in cash to purchase Accelrys (Nasdaq: ACCL).

Under Armour (NYSE: UA) reported higher fourth quarter earnings and revenue that beat expectations and lifted its full year outlook.

On the downside

ADT (NYSE: ADT) disappointed with lower first quarter earnings prompting a downgrade. 

Citrix Systems (Nasdaq: CTXS) reported higher fourth quarter earnings and revenue but the company forecast current quarter and full year results below estimates prompting downgrades.

Third quarter earnings rose for Symantec (Nasdaq: SYMC) but the company forecast current quarter results that merely met analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 climbed 14 points to 1789. Bitcoin added $11.85 or 1.25% to $945.89.

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