Stocks Waver To Modest Gains; Apple Sours After Hours


Stocks seesawed to their first gain in three sessions Thursday following more earnings reports and mixed economic data. Pending-home sales missed expectations, but durable orders came in above views.

The S&P 500 climbed 0.3% and the Dow Jones industrial average edged up 0.2%. Meanwhile, the Nasdaq squeezed out a 0.1% gain. NYSE volume rose and Nasdaq trade fell.

After the close, Apple (AAPL) dropped as it delivered fiscal Q4 profit that missed views by 8 cents, while revenue topped estimates. The iPhone maker guided fiscal Q1 results well below expectations, but Apple tends to give conservative guidance. The stock was initially unchanged after its Q4 report as after-hours trading had been halted, but then dropped once trading resumed. (AMZN) fell 3% after reporting a bigger-than-expected Q3 loss and disappointing sales. And the Internet retailer gave a weak revenue outlook for Q4.

Also after the bell, Expedia (EXPE) surged 9% after its quarterly earnings and sales beat expectations.

A number of leaders got hit in the regular session.

Outdoor equipment retailer Cabela’s (CAB) gapped below its 50-day line and plunged 16% in huge volume. The company announced Thursday morning that Q3 profit rose 20% to 60 cents a share, a penny below views. Sales rose 9% to $741.2 million. Analysts had expected $752.8 million. The stock also fell below a 48.60 three-weeks-tight buy point after being up as much as 17%.

Sherwin-Williams (SHW) tumbled 8% and sliced its 50-day line after reporting disappointing quarterly sales. The paint retailer’s Q3 profit rose 31% to $2.24 a share and beat views by 4 cents. Revenue rose 5% to just over $2.6 billion. That was its lowest gain in 10 quarters, missing expectations for $2.66 billion.

Texas Capital Bancshares (TCBI) ended well off its session low, but still lost 1% in huge trade and closed below its 50-day line. Late Wednesday, the company reported earnings of 80 cents a share, up 43% from a year ago. That beat views by 2 cents. But its net interest margin, or the gain from loans and investments vs. the cost to borrow and maintain deposits, fell 45 basis points from a year ago. Shares were off by as much as 9% intraday Thursday.

On the upside, Stratasys (SSYS) moved above its 50-day line and jumped 8% in more than double its average trade. The stock cleared a 65.42 buy point in a low handle. The maker of 3D printers will report third-quarter results Nov. 2. Analysts see profit rising 37% to 37 cents a share. Sales are slated to grow 23% to $48.9 million.


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