Stocks Ended Up for Third Day

U.S. stocks ended slightly higher, rising for a third day on Thursday after strong data indicated improving economic conditions. The Dow Jones Industrial Average was up 6.61 points, or 0.04%, at 14,937.48. The S&P 500 index added 2.00 points, or 0.12%, to 1,655.08. The Nasdaq Composite climbed 9.74 points, or 0.27%, to 3,658.78.

A lawsuit accusing Bank of America Corp (BAC) of reneging on promises to help distressed homeowners modify their mortgage loans, and instead driving them into foreclosure, cannot proceed as a class action, a federal judge has ruled.

Infoblox Inc.’s (BLOX)  fiscal second-quarter loss widened as the data-center technology company’s increase in expenses outpaced revenue growth, though results beat its expectations. For the period ended Jan. 31, Infoblox reported a loss of $3.2 million, compared with a year-earlier loss of $1.1 million. For the year, the company now
estimates earnings of 21 cents to 26 cents a share and revenue of $216 million to $219 million.

Alliant Techsystems Inc. (ATK:US), the world’s largest ammunition maker, obtained a $900 million financing commitment to support its acquisition of Bushnell Group Holdings Inc. from MidOcean Partners LP.

Gold sank almost 2 percent to two-week lows on Thursday. U.S. gold futures for December delivery were down $22.4 or 1.61 percent at $1,367.8.