After Market: Blue Chips Rise But Most Stocks End Lower

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Stocks surrendered early gains to end mixed, and shares of the luxury carmaker Tesla hit a big pothole.

The Dow Jones industrial average (^DJI) rose 32 points. They briefly topped the record high set last week before retreating. The Standard & Poor's 500 index (^GPSC) slipped 2 points, and the Nasdaq composite (^IXIC) fell 16 points.

Many of the volatile Internet stocks steadied today. Google (GOOG) edged higher, Amazon.com (AMZN) fell 1.5 percent and Twitter gained back 4 percent after Morgan Stanley (MS) upped its rating on the stock to "neutral."

Shares of Tesla Motors (TSLA) may need a tune-up after dropping 11 percent. The company posted a quarterly loss and warned that costs will continue to rise for new vehicle development and its planned battery factory. Telsa shares are well off their high, but have still more than tripled in price over the past year.

Elon Musk is the founder and chairman of Tesla. One of his other companies is SolarCity (SCTY), which fared much better. It gained 12 percent despite posting a loss.

Coffee-roaster Keurig Green Mountain (GMCR) was also hot, jumping 13 percent. It beat earnings expectations and expanded a partnership agreement with J.M. Smucker (SJM), owner of the Folger's brand. This is another stock that's been a standout gainer over the past year, up 74 percent.

Also higher on earnings news, 21st Century Fox (FOXA) gained 6.5 percent, helped by the broadcast of the Super Bowl in February. And the online real estate firm Zillow (Z) rose 4 percent after topping expectations.

On the downside:
  • Dish Networks (DISH) fell 4 percent as net fell from a year ago;
  • Caesars Entertainment (CZR) fell 6.5 percent as its loss widened. The casino company has not posted a profit since 2009.
  • Dean Foods (DF) lost 5 percent after posting a loss;
  • Gulfport Energy (GPOR) slid 19 percent after falling short of expectations.
Elsewhere, Ford (F) rose more than 2 percent after saying it plans to buy back up to $1.8 billion of its stock.

Costco (COST) led retailers, rising 2.5 percent on a solid sales gain in April. L Brands (LB) gained nearly 5 percent, and Zumiez (ZUMZ) zoomed ahead by 11 percent.

Among airline stocks, United Airlines (UAL) rose 1 percent and American Airlines (AAL) gained 2.5 percent.

-Produced by Drew Trachtenberg.

What to Watch Friday:
  • At 10 a.m. Eastern time, the Commerce Department releases wholesale trade inventories for March, and the Labor Department releases its job openings and labor turnover survey for March.
These major companies are scheduled to release quarterly financial results.
  • Bloomin' Brands (BLMN)
  • Chiquita Brands International (CQB)
  • E.W. Scripps Co. (SSP)
  • Hilton Worldwide Holdings (HLT)
  • Ralph Lauren (RL)

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Iselin007

Wall St seems to be so disconnected from reality that a recovery on Main St can not happen.

May 08 2014 at 9:47 PM Report abuse rate up rate down Reply
thefacts22

Nothing works in USA under this Regime,because they are a bunch of incompetent socialists

May 08 2014 at 6:28 PM Report abuse -5 rate up rate down Reply
1 reply to thefacts22's comment
teaparty2implode

Obama: 'Nothing Works' Because Republicans Are Willing 'To Say No To Everything'

President Barack Obama railed against Republicans during an event in Los Angeles Wednesday night, saying the GOP's willingness "to say no to everything" makes the upcoming midterm elections especially important.

“Their willingness to say no to everything -- the fact that since 2007, they have filibustered about 500 pieces of legislation that would help the middle class just gives you a sense of how opposed they are to any progress -- has actually led to an increase in cynicism and discouragement among the people who were counting on us to fight for them,” Obama said.

"The conclusion is, well, nothing works,” Obama continued. “And the problem is, is that for the folks worth fighting for -- for the person who’s cleaning up that house or hotel, for the guy who used to work on construction but now has been laid off -- they need us. Not because they want a handout, but because they know that government can serve an important function in unleashing the power of our private sector.”

Obama said a strong showing by Democrats in the midterm elections could help Washington "break out" of a vicious cycle.

"We're not going to make good choices unless we break out of this cycle in which dysfunction breeds cynicism, and cynicism then breeds more dysfunction," Obama said. "We've got to break out of it. And that happens during midterms."

thefacts22,.......To bad you don't provide any.

May 08 2014 at 8:35 PM Report abuse -1 rate up rate down Reply
1 reply to teaparty2implode's comment
Iselin007

The fact that many of our manufacturing and other jobs have been outsourced over the last couple of decades while both parties made excuses offers those that were devastated zero comfort.

May 08 2014 at 9:00 PM Report abuse rate up rate down