NEW YORK — Stocks were little changed Thursday after weak reports on hiring and retail sales. Goodyear Tire & Rubber soared after reporting a big earnings gain, while Cisco Systems and Whole Foods dropped after releasing disappointing results.
KEEPING SCORE: Major indexes were moving between small gains and losses in morning trading. The Standard & Poor's 500 index was up two points, or 0.1 percent, to 1,82 as of 11 Eastern time. The Dow Jones industrial average edged up 14 points, or 0.1 percent, to 15,927. The Nasdaq composite rose five points, or 0.1 percent, to 4,206.
BURNING RUBBER: Goodyear Tire & Rubber surged $2.15, or 8.9 percent, to $26.32, after the company's fourth-quarter earnings beat Wall Street estimates Thursday. Strong sales in the company's core North American market helped the tire maker.
JOBLESS CLAIMS: The number of people seeking U.S. unemployment benefits rose 8,000 last week to 339,000, evidence that layoffs ticked up. Economist had forecast claims of 330,000.
SNOW SALES: Cold weather caused U.S. retail sales to drop in January as Americans spent less on autos and clothing and at restaurants during a brutally cold month. The Commerce Department says retail sales fell 0.4 percent last month, the second straight decline after a 0.1 percent drop in December.
CISCO SLUMP: Cisco Systems fell $1.08 cents, or 4.7 percent, to $21.77, after the company reported late Wednesday that weaker revenue and special charges weighed down its second-quarter earnings.
CONTENT IS KING: CBS rose $2.51, or 4.1 percent, to $64.26 after reporting fourth-quarter earnings and revenue growth that beat Wall Street's expectations. Advertising revenue was flat, but there was growth in content licensing thanks to the sale of shows such as "Hawaii Five-O" for domestic reruns.
EARNINGS MARKDOWN: Whole Foods dropped $4.81, or 9 percent, to $50.64 after the grocery chain reported fiscal first-quarter profit and revenue that came in below analysts' forecasts. The company, known for its organic and natural food offerings, also lowered its earnings projections for the year again as the company faces more and more competition.
CABLE HOOK-UP: Comcast fell $1.91, or 4 percent, to $53.32 after it agreed to buy Time Warner Cable for $45.2 billion in stock. The deal would combine the top two cable TV companies in the United States. Time Warner's stock jumped $8.97, or 7 percent, to $144.24.
TREASURYS AND COMMODITIES: In government bond trading, the yield on the 10-year note fell to 2.74 percent from 2.79 percent on Wednesday. The price of oil fell 17 cents, or 0.2 percent, to $100.20. Gold was little changed at $1,297 an ounce.
Copyright 2016, Deseret News Publishing Company