Investing.com – U.S. stocks were mixed after the open on Thursday, following the release of mixed U.S. economic data, with financial stocks underperforming while earnings reports continued to feature largely.
During early U.S. trade, the Dow Jones Industrial Average gained 0.08%; the S&P 500 index fell 0.04%, while the Nasdaq Composite index was up 0.14%.
In earnings news, chip-maker Fairchild Semiconductor International saw its shares jump 4.55%, after reporting better-than-expected third quarter earnings. The tech firm said that third quarter sales rose by 25% year-on-year.
Meanwhile, shares in rival chip-maker, Advanced Micro Devices fell 1.11% ahead of its third quarter earnings report, due out after the close of trade.
Shares in private-education provider Apollo Group plunged 25.25%, after it reported fourth quarter profit fell 55%. The company also withdrew its fiscal year forecast for 2011, citing "the transitional state of the business and the uncertain regulatory environment.".
Elsewhere in the sector, rival for-profit education provider Corinthian Colleges tumbled 18.02%.
Meanwhile, shares in Yahoo soared 8.20%, amid reports that AOL was in talks with a number of private-equity firms to discuss a potential offer for the search-engine giant. Shares in AOL gained 2.43% following the news.
Ford Motor Company stocks advanced 2.57%, after its stocks were upgraded by Deutsche Bank to ‘buy’ from ‘hold’.
Meanwhile, financial sector stocks underperformed, with banks leading declines amid reports that the U.S. Attorney General was to join an investigation of improper foreclosure procedures by financial institutes. Shares in Bank of America tumbled 4.59%, shares in Wells-Fargo plunged 4.42% while Citigroup stocks fell 3.06%.
Across the Atlantic, European stock markets posted sharp gains: France’s CAC 40 surged 1.88%; Germany's DAX jumped 1.89%; Britain's FTSE 100 soared 1.40%; and the EURO STOXX 50 climbed 2.06%.
Earlier in the day, official data showed that while U.S. initial jobless claims rose more-than-expected last week, producer price inflation rose-more-than expected in September.
During early U.S. trade, the Dow Jones Industrial Average gained 0.08%; the S&P 500 index fell 0.04%, while the Nasdaq Composite index was up 0.14%.
In earnings news, chip-maker Fairchild Semiconductor International saw its shares jump 4.55%, after reporting better-than-expected third quarter earnings. The tech firm said that third quarter sales rose by 25% year-on-year.
Meanwhile, shares in rival chip-maker, Advanced Micro Devices fell 1.11% ahead of its third quarter earnings report, due out after the close of trade.
Shares in private-education provider Apollo Group plunged 25.25%, after it reported fourth quarter profit fell 55%. The company also withdrew its fiscal year forecast for 2011, citing "the transitional state of the business and the uncertain regulatory environment.".
Elsewhere in the sector, rival for-profit education provider Corinthian Colleges tumbled 18.02%.
Meanwhile, shares in Yahoo soared 8.20%, amid reports that AOL was in talks with a number of private-equity firms to discuss a potential offer for the search-engine giant. Shares in AOL gained 2.43% following the news.
Ford Motor Company stocks advanced 2.57%, after its stocks were upgraded by Deutsche Bank to ‘buy’ from ‘hold’.
Meanwhile, financial sector stocks underperformed, with banks leading declines amid reports that the U.S. Attorney General was to join an investigation of improper foreclosure procedures by financial institutes. Shares in Bank of America tumbled 4.59%, shares in Wells-Fargo plunged 4.42% while Citigroup stocks fell 3.06%.
Across the Atlantic, European stock markets posted sharp gains: France’s CAC 40 surged 1.88%; Germany's DAX jumped 1.89%; Britain's FTSE 100 soared 1.40%; and the EURO STOXX 50 climbed 2.06%.
Earlier in the day, official data showed that while U.S. initial jobless claims rose more-than-expected last week, producer price inflation rose-more-than expected in September.