Stocks Pared Early Losses to End Flat

U.S. stocks ended little changed on Thursday after data showed the economy picked up its pace in the second quarter, leaving the Federal Reserve on track to raise interest rates as soon as September. The Dow Jones Industrial Average slipped 5.41 points, or 0.03%, to 17,746.98. The S&P 500 was up 0.06 point, to 2,108.63. The Nasdaq Composite gained 17.05 points, or 0.33%, to 5,218.79.

LinkedIn Corp. forecast annual revenue that topped analysts’ estimates as the professional-networking website recovers from recent changes that stunted sales. LinkedIn said full-year revenue would be about $2.94 billion, beating the $2.91 billion estimate. Second-quarter earnings excluding some items were 55 cents a share compared with the average analysts’ estimate of 30 cents.

Higher sales of Amgen’s blockbuster rheumatoid arthritis drug Enbrel and some newer drugs boosted second- quarter profit 7 percent. The biotech giant topped Wall Street expectations and hiked its 2015 profit forecast. Net income rose to $1.65 billion, or $2.15 per share.

Expedia Inc. on Thursday reported second-quarter profit of $449.6 million. It had profit of $3.38 per share. Earnings, adjusted for one-time gains and costs, were 89 cents per share. The results beat Wall Street expectations.






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