Stocks opened mixed on Thursday, with techs sketching out an early lead and blue chips bringing up the rear.
The Nasdaq pulled up 0.4%, the S&P 500 0.1%. The Dow Jones industrial average dipped 0.2%, with Microsoft (MSFT) and Caterpillar (CAT) each slipping more than 1%.
Trade was starkly mixed, with action on the Nasdaq surging 58% and NYSE volume down 4% compared with levels at the same time Wednesday. Much of the higher Nasdaq volume could be traced to Facebook (FB), which soared 25% in volume that had already doubled its average in the first hour of trading. The company easily topped Q2 estimates late Wednesday.
The stock market today set sail under a mixed influence from early economic reports. Weekly jobless claims rose slightly above expectations, although the four-week average declined. Durable goods orders rose more than expected in June, and May's orders received a sharp upward revision from the Commerce Department.
In stocks, homebuilders were getting beaten up after several leaders reported Q2 results. Pulte Group (PHM) and D.R. Horton (DHI) were each down 8% after delivering Q2 results. M/I Homes (MHO) fell 6% after its report. Ryland Group (RYL), which reported late Wednesday, sank 4%.
Boston Scientific (BSX) bolted 12%. The maker of cardiology and endoscopy instruments, under a new CEO since November, reported a strong second quarter and raised its guidance for the third quarter and full year. The gain lifted shares to new highs and above 10 a share for the first time in 3-1/2 years.
TripAdvisor (TRIP) gapped up to a 15% gain, snatching the early lead among IBD 50 stocks. The online travel information aggregator reported second-quarter results after Wednesday's close, clearing analyst earnings and revenue expectations by wide margins.
Thursday's breakout hoisted shares nearly 7% above a 65.51 buy point in a flat base.
Also on the IBD 50 list, Oceaneering International (OII) popped 4% in heavy trade. The underwater engineering service firm, which operates one of the energy industry's largest fleets of remotely operated submarine vehicles, reported second-quarter results comfortably above expectations. The gap up put shares just below their July 22 high and 4% above a 76.70 buy point from a flat base.
On the IBD 50's downside, drugmaker Santarus (SNTS) plummeted 7% in fast trade. That put the stock even with its 50-day line and 7% below a 24.10 buy point from a cup base.
Source: http://news.investors.com/investing-stock-market-today/072513-665097-stocks-open-mixed-thursday.htm
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