U.S. Stocks Rise on ECB Stimulus, Oil Rebound; Bojangles Soars on Earnings

U.S. stocks kicked off Friday’s session to the upside, as investors cheered the European Central Bank’s latest stimulus measures and a bounce in oil prices. On Thursday, the ECB said it would expand its quantitative easing program and cut key interest rates in an effort to boost inflation and economic growth. Plus, West Texas Intermediate, the U.S. benchmark oil price, rose some 2 percent on a report from the International Energy Agency saying oil may have reached a bottom. Meanwhile, Bojangles (BOJA) shares soared 8 percent after the chicken and biscuit restaurant posted fourth quarter earnings of $0.22 a share, beating estimates by $0.03 a share. Comparable store sales rose 0.6 percent during the quarter. Finally, El Pollo Loco’s (LOCO) stock sunk as the fast food giant posted weaker than expected guidance. Earnings eclipsed estimates by a penny a share, but revenue of $86.3 million missed estimates of $88 million. TheStreet’s Scott Gamm reports from Wall Street.