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"Earnings growth has been quite strong. Corporations have found a way to make money," said Gendreau. "New products, new markets, cost savings. I don't believe that is going to stop any time soon." The S&P 500 index has gained 9 percent in 2013 and is within less than a percentage point of its record close of 1,565.15 set in October 2007. Stocks in Europe were mixed. Most markets edged lower after industrial production in the countries using the euro unexpectedly fell by 0.4 percent in January. Economists had expected it to rise by 0.1 percent, according to FactSet. The yield on the 10-year Treasury note was unchanged from late Tuesday at 2.02 percent. Among stocks making big moves; Spectrum Pharmaceuticals plunged $4.64, or 37 percent, to $7.79 after the pharmaceutical company said sales of its drug Fusilev could fall by more than half this year. Dole dropped $1.06, or 9 percent, to $10.67 after the company's fourth-quarter results fell short of analysts' expectations. The fruit company cited lower banana prices in North America. Express fell 60 cents, or 3.2 percent, to $18.25 after the clothing retailer's earnings report disappointed investors. Michael Weiss, the company's CEO and chairman, told analysts on a conference call that customer traffic was "down noticeably" compared to last year. Netflix rose $10.25, or 5.6 percent, to $192.36 after the internet video service said that it's adding a feature that will allow its subscribers in the U.S. to automatically swap movie and TV show recommendations with their friends on Facebook.
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