The Market Remains in Bull Mode

Stocks recouped their losses from Friday on the news that Greek officials passed austerity measures that would allow the country to receive its latest bailout package. Otherwise, the day was largely bereft of notable financial news, outside of the President's 2013 budget proposal and the downgrade of Spanish banks by S&P and Fitch. However, there will be plenty of economic and earnings news to comb through later this week. Financials led the market higher today, and are the S&P's top performing sector this year, up about 13%. The market remains in bull mode.

The Chinese Oil and Gas Stocks Index was the top performing tickerspy Index on the day, led by China North East Holdings (AMEX: NEP - News) with a 17% gain. The Drug Distributor Stocks Index was the day's worst performing tickerspy Index, with AmerisourceBergen (NYSE: ABC - News) down -4%.

Stocks rose on the day, led higher by a 28-point, or 0.9%, gain in the Nasdaq to 1,352. The Dow climbed 72 points to 12,874, while the S&P advanced 9 points to 2,931. Oil jumped $2.24 to $100.91 a barrel, while gold edged down -40 cents to $1,724.90 an ounce.

In earnings news, shares of ATM machine maker Diebold (NYSE: DBD - News) surged 9.3% after the company reported a fourth-quarter profit of $79.8 million, or $1.26 per share, compared with a year-earlier loss of -$120.0 million, or $1.83 per share. . On an adjusted basis, the company earned $1.40 a share. Revenue climbed 7.5% to $850.0 million Analysts had expected a profit of 84 cents on revenue of $837.7 million. Diebold said it expects a full-year profit of $2.18-$2.41 per share on revenue of $2.92-$3.01 billion. Analysts were expecting a profit of $2.29 per share on $2.88 billion in revenue.

Shares of Regeneron Pharmaceuticals (Nasdaq: REGN - News) soared 12.3% after the company forecast higher sales of its eye drug Eylea. The company now expects U.S. sales of $250-$300 million of the drug compared with a previous forecast of $140-$160 million. The company said its fourth-quarter loss widened to -$53.4 million, or -58 cents per share, from -$14.6 million, or -17 cents per share, a year earlier as revenue fell -8% to $123 million. Analysts expected a loss -60 cents per share and $132 million in revenue. Six pros counted Regeneron among their top holdings at the end of Q4 and nearly 100 tickerspy members own the stock in their portfolios.

Shares of Drew Industries (NYSE: DW - News), which make recreational vehicle components, climbed 8.4% after the company said its fourth-quarter revenue jumped 50% to $159.6 million. Drew posted a profit of $4.1 million, or 18 cents per share, compared with $3.1 million, or 14 cents per share, a year earlier. Analysts had expected EPS of 20 cents on sales of $128.3 million. One pro counted Drew Industries among his top holdings at the end of Q4 and nearly 40 tickerspy members own the stock in their portfolios.

Shares of Chelsea Therapeutics (Nasdaq: CHTP - News) plunged -37.7% after the company said it received inquiries from the U.S. Food and Drug Administration regarding concerns about the company's hypertension drug candidate Northera. The FDA raised questions related to the short duration of clinical studies and the limited size of the study population given the orphan status that the drug has. The drug is scheduled to go before an FDA advisory committee next week.

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