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

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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.


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36 Comments

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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
bdyftns

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

February 07 2014 at 12:31 AM Report abuse rate up rate down Reply
Iselin007

Like here in NJ :Mysteriously 136,000 + people disappeared from the labor force since January 2013. They didn't all retire or die.

February 07 2014 at 12:02 AM Report abuse +2 rate up rate down Reply
NJPACKFAN

58% of Americans working ? Retail sales will soon show the results.

February 06 2014 at 11:51 PM Report abuse rate up rate down Reply
NJPACKFAN

U.S. Workforce…144,844,091. Not in Labor Force…..92,360,811.
Official Unemployed….9,989,976. Actual Unemployed….19,903,584.

http://www.usdebtclock.org/

February 06 2014 at 11:37 PM Report abuse +1 rate up rate down Reply
1 reply to NJPACKFAN's comment
Iselin007

I bet if they fired everyone that was illegal the unemployment rate would even be higher than the U-6 figure is now.

February 06 2014 at 11:55 PM Report abuse +1 rate up rate down Reply
1 reply to Iselin007's comment
bdyftns

Americans are too lazy to do the work the illegals do.

February 07 2014 at 12:31 AM Report abuse -1 rate up rate down
Iselin007

It's funny how they push for recycling. The recycling goes off shore and gets counted as exports so they can claim their trying to reduce the trade deficit.

Now you know why the Green Jobs have failed. Another attempt to kill American jobs in mining and manufacturing. We need coal to make products like steel ect. Want they want is imported Windmills and other crap.

February 06 2014 at 11:34 PM Report abuse +1 rate up rate down Reply
Iselin007

The Trade Deals will never work. Lopsided trade never worked and hasn't worked since the1600's when my Blood ancestor Thomas W .traded wool in Wetherfield Connecticut that he bought from the sheep farmers!

The Unfair trade deals has created more poverty in the USA than was here in the 1930's Great Depression.

February 06 2014 at 11:17 PM Report abuse +1 rate up rate down Reply
Iselin007

They can rate the comments down all they want. What I say is true. If the truth hurts that's tough.

My ancestors are among the first early Americans recorded in the Library Of Congress.

February 06 2014 at 10:34 PM Report abuse -2 rate up rate down Reply
Iselin007

They weren\'t satisfied with sending the Tech hard ware jobs off shore they had to displace most of the software engineers with imported visa workers!

February 06 2014 at 10:10 PM Report abuse +1 rate up rate down Reply