Stocks Hold Onto Early Gains; The Container Store Doubles On IPO

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Stocks managed to hold onto modest gains today thanks to bullish manufacturing data and upbeat earnings from First Solar ( FSLR ) and a well-received IPO from The Container Store ( TCS ). Although the opening gains were compromised by disappointing earnings from Chevron ( CVX ) and American International Group ( AIG ), the Dow Industrials and S&P 500 regained their footing and returned to their intra-day highs.

The Nasdaq crawled higher into the close, narrowly ending a five-day losing streak. Early losses in the index were attributed to pressure on social-networking stocks after the sector took a hit after Facebook's ( FB ) CFO said on Thursday that the site is losing the fickle teen segment. Shares of MeetMe (MEET) and LinkedIn (LNKD) led the sector lower. The S&P 500 and Dow gain for a 4th straight week, but the Nasdaq suffers a weekly loss.

US MARKETS

Dow Jones Industrial Index was up 69 or 0.5% to 15,615

S&P 500 was up 5, or 0.3%, at 1,761

Nasdaq Composite Index was up 2, or 0.1%, at 3,922

GLOBAL SENTIMENT

FTSE 100 was up 0.05%

Nikkei 225 was down 0.88%

Hang Seng Index was up 0.19%

Shanghai China Composite Index was up 0.37%

UPSIDE MOVERS

TCS, Stock price doubles after $18.00 IPO

OSIR, Narrowed its Q3 loss to $0.05 per share from $0.09 the year earlier, beating estimates for a $0.10 loss

FSLR, Reported record quarterly net sales of $1.3 billion, a gain of $746 million from last quarter.

DOWNSIDE MOVERS

ELLI Q3 EPS of $0.25 missed the Capital IQ consensus estimate of $0.30. Revenues of $33 million also fell short of the consensus of $34.4 million.

AIG, Q3 revenue declines 3.7% year over year to $8.43 bln, trailing consensus by $210 mln.

WCG Reported Q3 earnings of $1.56 per share versus analyst estimates of $1.51 and up from $1.05 per share last year.

Stocks managed to hold onto modest gains today thanks to bullish manufacturing data and upbeat earnings from First Solar ( FSLR ) and a well-received IPO from The Container Store ( TCS ). Although the opening gains were compromised by disappointing earnings from Chevron ( CVX ) and American International Group ( AIG ), the Dow Industrial and S&P 500 regained their footing and returned to their intra-day highs.

The Nasdaq, however, is closing in the red for the sixth consecutive day and its first weekly loss in five weeks as social-networking sites took a hit on Thursday's comments from Facebook's CFO regarding the loss of the fickle teen segment. Shares of MeetMe (MEET) and LinkedIn (LNKD) led the sector lower.

US MARKETS

Dow Jones Industrial Index was up

S&P 500 was up

Nasdaq Composite Index was up

GLOBAL SENTIMENT

FTSE 100 was up 0.05%

Nikkei 225 was down 0.88%

Hang Seng Index was up 0.19%

Shanghai China Composite Index was up 0.37%

UPSIDE MOVERS

TCS, Stock price doubles after $18.00 IPO

OSIR, Narrowed its Q3 loss to $0.05 per share from $0.09 the year earlier, beating estimates for a $0.10 loss

FSLR, Reported record quarterly net sales of $1.3 billion, a gain of $746 million from last quarter.

DOWNSIDE MOVERS

ELLI Q3 EPS of $0.25 missed the Capital IQ consensus estimate of $0.30. Revenues of $33 million also fell short of the consensus of $34.4 million.

AIG, Q3 revenue declines 3.7% year over year to $8.43 bln, trailing consensus by $210 mln.

WCG Reported Q3 earnings of $1.56 per share versus analyst estimates of $1.51 and up from $1.05 per share last year.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: AIG , CVX , FB , FSLR , TCS

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