Nasdaq Closed at New Record High

U.S. stocks ended with modest gains on Thursday, allowing the Nasdaq Composite climbing to the highest level in 15 years, as investors shrugged off mixed earnings and disappointing manufacturing data from across the globe. The Dow Jones Industrial Average added 20.42 points, or 0.11%, to 18,058.69. The S&P 500 was up 4.97 points, or 0.24%, to 2,112.93. The Nasdaq Composite gained 20.89 points, or 0.41%, to 5,056.06.

Google Inc’s (GOOGL.O) first-quarter revenue jumped 12 percent, helped by an 11 percent increase in adsales. Consolidated revenue rose to $17.26 billion for the quarter ended March 31, from $15.42 billion a year earlier.Net income rose to $3.59 billion, or $5.20 per share, from $3.45 billion, or $5.04 per share.

Starbucks Corp said on Thursday sales at its coffee shops in the Americas region grew more than expected. Sales at Starbucks shops open at least 13 months were up 7 percent in the Americas region for the fiscal second quarter that ended March 29.

Amazon.com Inc.reported a loss despite rapidly rising sales. Amazon posted a sales jump of 15% to $22.72 billion, compared with $19.7 billion a year earlier.

Microsoft Corp.’s sales growth and profit continued to shift into the slow lane as net income fell 12% in the quarter ended in March. Overall for the fiscal third quarter ended March 31, Microsoft reported net income of $4.985 billion, or 61 cents a share. Revenue was $21.73 billion.

Pandora Media Inc. (P) posted a loss of 23 cents a share on revenue of $230.8 million. Adjusted, the loss was 12 cents a share. Pandora forecast revenue of $280 million to $285 million for the second quarter, and $1.16 billion to $1.18 billion for the year.

Comcast Corp plans to drop its offer to buy Time Warner Cable Inc in the face of opposition from U.S. regulators, Bloomberg reported on Thursday, citing people with knowledge of the matter.