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Stocks Mixed At Close, As Ferrari, Qorvo, OpenText Score Breakouts | Stock News & Stock Market Analysis

A powerhouse session for earnings reports left the major indexes mixed, after stocks faded in afternoon trading and investors looked toward a busy after-hours session.

XThe Dow Jones industrial average struggled to a 0.1% gain, with Exxon-Mobil (XOM) and Walt Disney (DIS) posting the index’s top gains. The Nasdaq Composite slumped 0.4%, as PayPal (PYPL) and Tractor Supply (TSCO) fell to the bottom of the Nasdaq 100.

The S&P 500 manage lost a fraction. The Russell 2000 small-cap gauge took a 0.2% gain for the day. Volume was higher, according to preliminary numbers.

It was a mixed day for data. On the downside, job cuts rose sharply in January, and the Labor Department estimate a sharp increase in labor production costs during the fourth quarter. On the other hand, weekly jobless claims dipped while forecasts were for an increase, and the Institute For Supply Management’s January manufacturing gauge decreased, but still came in above expectations.

After the close, quarterly results were coming in from Apple (AAPL), Amazon.com (AMZN) and Alphabet (GOOGL), among many others. Amazon rose and Alphabet fell in extended trading following their reports.

Facebook (FB) rolled up a 3% gain, nailing a new high as analysts raced to lift the stock’s price target following a positive fourth-quarter report late Wednesday.  The stock ended near the top of a buy range above a 184.35 buy point.

Diversified media company Meredith (MDP) collapsed 14%, killing a seven-week basing effort, after reporting generally better-than-expected fiscal second-quarter results. The company also began its official move into the downtown Manhattan offices of Time, which it purchased for $1.8 billion in November.

A 4% tumble by food ingredient heavyweight Ingredion (INGR) sent the grains industry group to the day’s worst performance among industries. Ingredion reported its fourth-quarter earnings missed analyst forecasts by a wide margin. The decline sent shares back below a 135.10 buy point, as well as the stock’s 10-week moving average.

Tractor Supply (TSCO) caved 6%, stabbing below its 10-week moving average in heavy trade.  The retailer’s fourth-quarter results narrowly cleared expectations, but the midpoint of full-year revenue guidance was below the consensus target.  Shares remain extended from a cup base the stock cleared in November.

Alibaba Group Holdings (BABA) sliced 6% lower following a mixed fiscal third-quarter performance and its announcement that it had taken a 33% stake in ANT Financial, the unit it had spun off in 2011. The slip sent Alibaba back to test a cup-base buy point at 191.85.

Among the day’s big winners, Cimpress (CMPR) bolted 20% following its quarterly report. Stocks scoring breakouts during the session included Ferrari (RACE), EZCorp (EZPW) and OpenText (OTEX).

Chipmaker Qorvo (QRVO) swung up 16%, boosted by fiscal third-quarter results and news that it had landed a key supply contract with Apple. Shares wrapped up the session in a buy range above an 81.30 buy point in a cup base.

Friday morning’s earnings roster calls for reports from several big oil names, led by Chevron (CVX) and Exxon-Mobil. Drugmakers Merck (MRK) and AstraZeneca (AZN) are also on the list. Investors will be tuned to the Labor Department’s monthly payrolls report, which is due out before the open.

Other Important Market News For Thursday:

Jobs, Big Oil Earnings To Drive Market Friday: Investing Action Plan

Alibaba Tests Buy Point After Earnings Miss, Ant Financial Stake

Qorvo Rockets On Apple Contract Win, Broadcom Slips

Take-Two Interactive Software Gunned Down By Wild West Game Delay

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