Stocks Opened Higher; BlackBerry Beat Expectations

U.S. stocks opened slightly higher on Thursday after the economic report that the weekly jobless claims came in in line with expectations. The Dow Jones Industrial Average lately added 0.46 points, to 16,907.08. The S&P 500 was up 0.82 a point, to 1,957.80. The Nasdaq Composite was down 3.57 points, to 4,359.26.

The number of Americans filing new claims for unemployment benefits dipped more than expected last week, pointing to strengthening labor market conditions. Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 312,000 for the week ended June 14, the Labor Department said on Thursday.

BlackBerry Ltd. on Thursday posted a surprise small net profit after a string of quarterly losses, and its adjusted loss beat expectations, though revenue declined as the smartphone maker continues to face challenges revitalizing sales. The company reported a profit of $23 million in its fiscal first quarter ended May 31, well ahead of the $423 million loss it posted three months ago and up from its year-earlier loss of $84 million.

Kroger Co. (KR) reported better-than-expected first-quarter profit and sales. Kroger said it earned $501 million, or 98 cents a share, in its first fiscal quarter, up from $481 million, or 92 cents a share, in the year-earlier period.

About the Author

has written 14556 stories on this site.

Copyright © 2012 Nine Stocks