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Thursday's most followed in U.S. including eBay, Mattel, Microsoft, Morgan Stanley, SanDisk, Novartis

Published: 11:39 17 Jul 2014 EDT

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U.S. shares wavered as investors weighed mixed reports on corporate earnings and the economy. The S&P 500 (INDEXSP:.INX) inched down 0.4 percent at 11:22 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) dropped 0.3 percent, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) slipped 0.6 percent. Most followed shares included eBay, Mattel, Microsoft, Morgan Stanley, SanDisk, Novartis, UnitedHealth, Las Vegas Sands, and Blackstone.

In consumer-discretionary shares, eBay Inc. (NASDAQ:EBAY), the biggest online marketplace, rose 2.1 percent to $51.72 after posting a 13 percent jump in second-quarter profit, on the back of better-than-expected results from its fast-growing PayPal division. Net income rose to $676 million, or 53 cents per share, in the April-to-June period, from $640 million, or 49 cents per share, in the same quarter a year ago, the San Jose, California-based company said late yesterday. Adjusted earnings were 69 cents per share. Wall Street was looking for 68 cents. Revenue climbed 13 percent to $4.37 billion from $3.88 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $4.38 billion. 

Mattel Inc. (NASDAQ:MAT), a toymaker, slumped 6.9 percent to $36.33 after earning three cents per share for the second quarter, excluding certain items, well below estimates of 18 cents. Revenue as well lagged analyst consensus. 

Las Vegas Sands Corp. (NYSE:LVS), a casino operator, edged down 0.8 percent to $73.25 after falling five cents short of estimates with second quarter profit of 85 cents per share, excluding certain items. Revenue lagged behind estimates as well.  

In financials, Morgan Stanley (NYSE:MS), the owner of the world’s largest brokerage, edged up 0.6 percent to $32.72 after reporting profit more than doubled in the second quarter as stronger performances by its investment banking and wealth management businesses offset a fall in revenue from bond trading. Net income almost doubled to $1.94 billion, or 94 cents per share, in the April-to-June period, from $980 million, or 41 cents per share, a year earlier, the New York-based company said. Stripping out an accounting adjustment tied to the firm’s own debt and a tax benefit, profit was 60 cents per share, surpassing Wall Street's consensus of 56 cents per share. The stock had risen 3.6 percent this year through yesterday. 

Blackstone Group LP (NYSE:BX), a private equity firm, added 2.3 percent to $34.77, after trouncing expectations with its latest quarterly earnings report, helped by performance fees that nearly doubled. 

UnitedHealth Group Inc. (NYSE:UNH), a health insurer, spiked 2.7 percent to $86.04 after reporting second quarter profit of $1.42 per share, 16 cents above estimates. Revenue beat forecasts as well, and the company also raised its full-year revenue forecast.

In technology stocks, Microsoft Corp. (NASDAQ:MSFT), the world's largest software company, gained 1.1 percent to $44.54 after saying it will eliminate as many as 18,000 jobs, the largest round of cuts in its history. 

SanDisk Corp. (NASDAQ:SNDK), the biggest maker of flash memory cards, plunged 12 percent to $95.01 after posting profit margins and sales forecasts that fell short of some analysts’ estimates. 

In other stocks, Novartis AG (VTX:NOVN), a drug maker, surrendered 1.5 percent to $79.90. The company missed estimates with its latest quarter sales. 

Canadian Pacific Railway Ltd. (NYSE:CP) (TSE:CP), Canada's second-largest rail operator, rose 3.5 percent to $190.37 after posting a 48 percent increase in second-quarter profit as revenue surged. Net income rose to C$371 million, or C$2.11 per share, from C$252 million or C$1.43 per share, a year earlier, the Calgary, Alberta-based company said. That result beat the C$2.09 average of estimates. Revenue increased 12 percent to C$1.68 billion, beating the C$1.65 billion average estimate. 

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