The markets rebounded to open sharply higher with the Dow leaping 197 points to 16,713 as investors snapped up bargains. Nasdaq jumped 66 points to 4,624.

On the upside

Hertz Global (NYSE: HTZ) reversed year ago losses to post a profit for the fourth quarter.

Exelixis (Nasdaq: EXEL) narrowed losses for the fourth quarter and entered an exclusive license agreement with Ipsen to commercialize and further develop Exelixis’ oncology drug cabozantinib.

Career Education (Nasdaq: CECO) swung to a profit for the fourth quarter.

On the downside

SunEdison (NYSE: SUNE) delayed filing its annual report citing an internal investigation.

Bonanza Creek Energy (NYSE: BCEI) widened fourth quarter losses more than expected as revenue tumbled prompting downgrades.

Diplomat Pharmacy (NYSE: DPLO) swung to a profit for the fourth quarter but the company forecast full year earnings below expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 leaped 23 points to 1,955. Bitcoin slipped $2 to $433.