S&P 500 ends higher, extending streak

Published on NewsOK Modified: February 15, 2013 at 3:48 pm •  Published: February 15, 2013
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Investors are continuing to put money into stocks. Lipper, a unit of financial data provider Thomson Reuters, reported that $2.4 billion flowed into stock funds this week, marking the sixth straight week of increases. In January $37.4 billion went into stock funds, the most in that month since 2000.

The yield on the 10-year Treasury note, which moves inversely to its price, has risen as investors have put more cash into stocks. The yield rose 1 basis point to 2.01 percent, having started the year at 1.70 percent.

Among other stocks making big moves:

— MeadWestvaco, a packaging company, surged $3.97, or 12.5 percent, to $35.65 after Nelson Peltz's Trian Fund Management disclosed that it had taken a $51 million stake in the company.

— Xoom, an online money transfer company, surged $9.49, or 59 percent, to $25.49 on its first day as a publicly traded company. Xoom raised $101.2 million from selling 6.3 million shares at $16 each.

— Burger King gained 78 cents, or 4.7 percent, to $17.36. The company's fourth-quarter earnings nearly doubled after it revamped its menu.

— St. Jude Medical fell $1.48, or 3.4 percent, to $41.53 after a Cowen & Co. analyst downgraded the medical device maker's stock, saying he believes the company's Durata heart wire is not very different from older wires that have been taken off the market.