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Bargain hunters send markets soaring

Bargain hunters sent the markets soaring to a sharply higher close with the Dow leaping 227 points to 16,379. Nasdaq jumped 88 points to 4,615.

On the upside

Rebounding crude oil prices lifted shares of Energy Transfer Equity (NYSE: ETE) and Williams Companies (NYSE: WMB).

Shares of Intrexon (NYSE: XON) rose after presenting at the 34th Annual J.P. Morgan Healthcare Conference.

Zacks Equity Research wrote that MeetMe (Nasdaq: MEET) would be a good investment.

On the downside

Shares of Eclipse Resources (NYSE: ECR) continued falling.

Morgan Stanley slashed its price target on Mobileye (NYSE: MBLY) from $80 to $57.

Best Buy (NYSE: BBY) disappointed with lower same store holiday sales.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 surged 31 points to 1,921. Bitcoin eased a fraction to $429.

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