After Market: Stocks Make Best Gains of the Year on Improving Job Market

×

This was the best day so far of what's been a lousy year for investors. Jobless claims came down last week and expectation is rising for an upbeat report Friday morning on job creation.

The Dow Jones industrial average (^DJI) rallied 188 points, the Standard & Poor's 500 index (^GPSC) rose 21 and the Nasdaq composite (^IXIC) gained 45 points.

Even though this was a big up day, let's start with the big loser. Twitter (TWTR) tumbled 24 percent as investors were stunned by the slowing pace of user growth for the short-message service.
Twitter went public in November, doubled in price right out of the gate, and nearly tripled within a few weeks. But it's now given most of that back.

But today was about market fizz and Green Mountain Coffee (GMCR) had plenty of that. It soared 26 percent after signing a deal with Coca-Cola (KO) to market an in-home system of single serve cold beverages.

At first, SodaStream International (SODA) lost steam because of the competitive threat to its home carbonation systems. But then rumors surfaced that PepsiCo (PEP) might be interested in SodaStream, and it's stock rose 7 percent.

On the earnings front, Walt Disney (DIS) jumped nearly 5 percent. Its net surged, led by a strong performance at its ESPN unit and the box-office success of the movie "Frozen."

Also beating expectations:
  • Akamai Technologies (AKAM), up 20 percent.
  • Yelp (YELP), gained 19 percent.
  • O'Reilly Automotive (ORLY), rose 9 percent.
  • Dunkin' Brands Group (DNKN), advanced 3 percent on strong sales of its breakfast sandwiches.
  • Sony (SNE) rose 4 percent despite forecasting a huge loss. Investors focused instead on the sale of its Vaio PC unit.
On the downside:
  • The music service Pandora Media (P) fell 10 percent.
  • Spirit AeroSystems Holdings (SPR) tumbled 20 percent after missing on earnings and issuing a weak outlook.
  • Montage Technology (MONT) slid 18 percent. Seeking Alpha claims the semiconductor company is grossly overstating its revenue.
Finally, it was a good day for some retailers after reporting sales for January. Costco (COST), Gap (GPS), Abercrombie & Fitch (ANF), L Brands (LB) and Kohl's (KSS) all posted strong gains.

What to Watch Friday:
  • The Labor Department releases employment data for January at 8:30 a.m. Eastern time.
  • The Federal Reserve releases consumer credit data for December at 3 p.m.
These major companies are scheduled to release quarterly financial statements:
  • Cigna (CI)
  • Moody's (MCO)
  • Wyndham Worldwide (WYN)
-Produced by Drew Trachtenberg.


Increase your money and finance knowledge from home

What are Penny Stocks

The lucrative and dangerous world of penny stocks.

View Course »

Forex for Beginners

Learn about trading currencies and foreign exchange transactions

View Course »

Add a Comment

*0 / 3000 Character Maximum

52 Comments

Filter by:
jrb359

More BS from the WH. When are people going to stop believing all the lies?

February 07 2014 at 5:58 AM Report abuse rate up rate down Reply
ectullis

Improving job market, don't beleive that for one second

February 07 2014 at 5:36 AM Report abuse +1 rate up rate down Reply
fakeconomics1

Global Trade and Trade Agreements--

It is the greatest fraud and betrayal of our citizens. Our congress, all branches have conspired to loot American Freedom and sabotage American Democracy

February 07 2014 at 1:28 AM Report abuse +2 rate up rate down Reply
fakeconomics1

Mr. Obama!! Do you have any shame? How in the hell this Trans-Pacific Trade agreement would help American Consumers? Who will export more and who will import more? who will lose jobs?

How can we keep consuming when we lose our jobs and our incomes keep going down? Are you high on wall street kool aid? Sorry Sir --- Your pseudo economic concept does not add-up

February 07 2014 at 12:58 AM Report abuse +3 rate up rate down Reply
fakeconomics1

Hey consumers!! voters, and citizens (all)-------why are you keep electing same officials? Don't you think you (we) are the problem? and we have no shame?

February 07 2014 at 12:54 AM Report abuse +1 rate up rate down Reply
fakeconomics1

Uncle Sam has been drugged big corporations, bribed by big corporations -- Uncle Sam has become Anti American in the last 50 years or so

February 07 2014 at 12:52 AM Report abuse rate up rate down Reply
fakeconomics1

Uncle Sam also let 40 oil companies merge into 4 or 5 oil companies? Uncle Sam also let the mega banks merge into "too big to fail" banks? Uncle Sam let 20 Airlines merge into 5 Airlines ----Same case with utilities, Big Pharma, Insurance and other companies!! How is it good for consumers? Is monopoly part of capitalism? who is defining it?

February 07 2014 at 12:50 AM Report abuse +1 rate up rate down Reply
fakeconomics1

Uncle Sam is sold out --- Uncle Sam along with Corporations (because of campaign bribes) turned us into Consuming Nation---Not producing, not manufacturing and not designing NATION.

Before blaming others, I should blame our people and consumers for not being Pro-American. We are very unassuming and think some how things will work out by themselves. Time for a grassroots movement

February 07 2014 at 12:44 AM Report abuse rate up rate down Reply
fakeconomics1

(Y)our party affiliations, partisanships and bias are the biggest obstruction and distraction to implement the things that your heart believes in ----- Please reject illegal and immoral imports and let us depend on ourselves.

American Products and American Manufacturing and it is up o Americans --- not CONGRESS, POTUS, SCOTUS and WALL STREET.

February 07 2014 at 12:31 AM Report abuse rate up rate down Reply
bdyftns

Uncle Sam doesn't export jobs. American Corporations do.

February 07 2014 at 12:31 AM Report abuse rate up rate down Reply
1 reply to bdyftns's comment
fakeconomics1

Good Post --- but Uncle Sam gives License to Loot Consumers, Uncle Sam makes Global Trade and Trade Agreements

February 07 2014 at 12:34 AM Report abuse rate up rate down Reply