After Market: Following a Steep Drop, the Stock Roller Coaster Rises Again

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The roller coaster that is Wall Street climbed uphill Thursday, with stocks bouncing back from Wednesday's big plunge, propelled by a solid report on fourth-quarter GDP, the apparent stabilization of some overseas currencies, and some positive earnings reports.

The Dow Jones industrial average (^DJI) gained 110 points, the Standard & Poor's 500 index (^GPSC) rose 20 and the Nasdaq composite (^IXIC) rallied 71 points -- a gain of nearly 2 percent.

The Dow's gains were led by Nike (NKE), Disney (DIS), Merck (MRK) and Caterpillar (CAT) -- each of which was up more than 2 percent.

A blowout quarter by Facebook (FB) prompted buying in the tech sector. Facebook shares jumped 14 percent, hitting an all-time high after the social media leader reported a big jump in revenue from mobile advertising. That helped lift Twitter (TWTR), which gained 7 percent, and LinkedIn (LNKD), up 4 percent.

Other big Nasdaq names: Amazon (AMZN) was up nearly 5 percent ahead of its earnings report, and Google (GOOG) rose 2.5 percent after agreeing to sell most of its Motorola Mobility unit to Chinese tech giant Lenovo.

This was the single busiest day of the earnings season -- and the results were widely mixed.

Among blue chip companies: Visa (V) gained nearly 2 percent as net topped expectations. But 3M (MMM) fell 1.5 percent; its net was in line. And Exxon Mobil (XOM) shares fell 1 percent.

Elsewhere, ADT (ADT) tumbled 17 percent after missing the earnings target.

And the data processing firm Neustar (NSR) plunged 20 percent. It issued a disappointing forecast.

Elsewhere on the earnings scorecard:
  • Under Armour (UA) soared 23 percent.
  • Alexion Pharceuticals (ALXN) up 21 percent.
  • UPS (UPS) gained less than 1 percent.
  • Whirlpool (WHR) lost 8 percent.
  • ITT Educational Services (ESI), the for-profit education company, slid 21 percent.

Finally, JetBlue (JBLU) rose more than nearly 6 percent after it agree to buy some of the slots at Reagan National Airport near Washington that American (AAL) and USAir were forced to sell as part of their merger settlement agreement with the government. Southwest (LUV) is buying some of those slots too. It rose 3 percent.

What to Watch Friday:
  • At 8:30 a.m. Eastern time, the Commerce Department releases personal income and spending for December, and the Labor Department releases its fourth-quarter employment cost index.
These major companies are due to report quarterly financial results.
  • Chevron (CVX)
  • Honda Motor (HMC)
  • Legg Mason (LM)
  • Mattel (MAT)
  • MasterCard (MA)
  • Tyco International (TYC)
  • Tyson Foods (TSN)
  • Weyerhauser (WY)
-Produced by Drew Trachtenberg.


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Iselin007

The topic of jobs it often trumps whatever the topic was because it takes pesidence or ranks higher because of it importance. Unless the lies and game playing end the middle class will contine to decline and generations will see a great lost in their living standards.

January 31 2014 at 3:27 AM Report abuse +1 rate up rate down Reply
Iselin007

All the supporting business that surrounded domestic manufacturing like suppliers of services, tools,materials, lubricants, machinery, and other products evaporate when these industrial jobs leave. The local sandwhich shops and fast fast food chains either close or downsize. The shops along the side streets and the main boulevards fail, or downsize. The neighbor hoods decline while the taxrevenue drops and is forced unto the rest of the town or city residents. Planning boards become so desperate they rubber stamp applications of businesses paying low wages often approving too many stripmalls and causing traffic jams with parking shortages.

January 31 2014 at 3:21 AM Report abuse +1 rate up rate down Reply
jim.lapt

Crap ! What happened to my other screen name ?

January 31 2014 at 3:08 AM Report abuse rate up rate down Reply
1 reply to jim.lapt's comment
irq.hide

Don't know. Where did you look?

January 31 2014 at 8:43 AM Report abuse +1 rate up rate down Reply
Iselin007

Manufacturing jobs means 40 hrs a week, overtime with benefits, vacations and hoilday pay. Retail means means mostly very few 40 hr jobs, with the bulk part time less than 30 hrs. Salary workers were usually 35 hr jobs but after the loss of manufacturing states see 35 as full time for most occupations.Going from 40 to 35 hrs is an instant loss of 5 hours coupled with the loss of benefits like paid vacation hrs, holidays, and overtime the workers especially in retail ect are hurt dramatically.

The merging retail into virtual behemouths detroy smaller business causing layoffs, cuts, in pay,and cuts in benefits which sends a negative domino effect through out the economy.

January 31 2014 at 3:08 AM Report abuse +1 rate up rate down Reply
jim.lapt

I have my picture on the wall right next to Obama's, because we are great and all you others are idiot kids.

January 31 2014 at 2:58 AM Report abuse -1 rate up rate down Reply
jim.lapt

I love the stock market I just made more money today. You morons keep voting republican I love it.

January 31 2014 at 2:45 AM Report abuse -1 rate up rate down Reply
Iselin007

The last boom was the fraud driven driven housing boom that inspired retail expansion which kept things going after millions of manufacturing and other jobs were outsourced.
After the fraud resulted in foreclosures, bailouts,mergers, and a drop in business millions lost their jobs.Now another fraud takes place the drop in the unemployment rate due to people being erased from the labor force. The not in the labor force is the fastest growing bubble of it\'s kind which masks some real serious problems.

January 31 2014 at 2:43 AM Report abuse +1 rate up rate down Reply
1 reply to Iselin007's comment
jim.lapt

I'm a millionaire pilot. Obama is going to fix everything, it's all Bush's fault.

January 31 2014 at 2:56 AM Report abuse +1 rate up rate down Reply
1 reply to jim.lapt's comment
irqhide

You're millionaire? Very cool. Me too.

January 31 2014 at 8:37 AM Report abuse +1 rate up rate down
Iselin007

The continuing saga of the declining middle class continues as it has for decades. OverStock.com is still overstocked. The politicians manage to reach their goals of a government pension while the axe swings over the rest of us.

January 31 2014 at 2:24 AM Report abuse +1 rate up rate down Reply
1 reply to Iselin007's comment
jim.lapt

Let them eat cake.

January 31 2014 at 2:45 AM Report abuse rate up rate down Reply
Iselin007

As usual the market changes like Dr Jeckle and Mr Hyde.

January 31 2014 at 2:04 AM Report abuse +1 rate up rate down Reply
betty_brock

I hope you don't crash your toy plane, irq, and kill a bunch of Barbie dolls.

January 30 2014 at 10:48 PM Report abuse -1 rate up rate down Reply
1 reply to betty_brock's comment
jim.lapt

I'm a great pilot just ask me. I have an A-6. You conservative ignorant crybabies keep whining. I love paying taxes so you morons can survive because I don't care about you morons.

January 31 2014 at 2:51 AM Report abuse rate up rate down Reply