Investors have been hard to please even on good earnings reports lately, but Friday was a pleasant exception.
Pricelineand Intuitboth gained on the day despite offering guidance that was somewhat less than analysts had been expecting.
And companies whose results and guidance were better than expected, like Salesforce.comand Nvidia, were rewarded with gains of 10% or more on the day.
The broader market didn’t fare that badly either, considering reports that showed the biggest jump in wholesale prices in six years and the fourth straight monthly decline in chip equipment orders.
The Nasdaq slipped 2 to 2058, the S&P 500 climbed 1 to 1201, and the Dow rose 30 to 10,785. Volume declined to 1.55 billion shares on the NYSE, and 1.62 billion on the Nasdaq. Decliners led 21-12 on the NYSE, and 17-13 on the Nasdaq. Downside volume was 52% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 178-17 on the NYSE, and 71-44 on the Nasdaq.
MCIsurged 8% on a new offer from Qwest.
Akamaiand Intellisyncsurged on their earnings reports, but ADICand Netgeartumbled after missing estimates.