Stocks Ended Little Changed ahead of Jobs Report
- Thursday, May 5, 2016, 17:05
- Stock Market
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U.S. stocks ended little changed on Thursday as investors showed caution ahead of the April jobs report. The Dow Jones industrial average rose 9.45 points, or 0.05%, to 17,660.71. The S&P 500 lost 0.49 points, or 0.02%, to 2,050.63. The Nasdaq Composite dropped 8.54 points, or 0.18%, to 4,717.09.
Chesapeake Energy (CHK) reported a 2016 first quarter loss in line with analysts’ estimates and announcing asset sales. Revenue declined by 39% year-over-year to $1.95 billion for the most recent period. Additionally, Chesapeake has signed an agreement to sell about 42,000 acres in Oklahoma’s STACK field for roughly $470 million.
Square Inc (SQ.N), the mobile payments company run by Twitter Inc (TWTR.N) Chief Executive Jack Dorsey, reported a 51.4 percent jump in quarterly revenue, as customers processed more transations through the company’s network. The company’s net revenue rose to $379.3 million in the first quarter ended March 31, from $250.6 million a year earlier and $374.4 million in the fourth quarter of 2015.
GoPro Inc. (GPRO) reported stronger-than-expected sales for the first quarter despite swinging to a loss and narrowing its margins. It reported a loss of $107.5 million, or 78 cents a share, compared with a year-earlier profit of $16.7 million, or 11 cents a share. Revenue fell 50% to $183.5 million from $363.1 million last year, but topped the consensus estimate of $169 million.
Yelp Inc.s quarterly results topped Wall Street estimates. The company reported adjusted first-quarter earnings of 8 cents a share on revenue of $158.6 million. Yelp sees second-quarter revenue of $167 million to $171 million.
Herbalife Ltd. (HLF) turned quarterly results that beat analysts’ expectations. Herbalife reported its first-quarter earnings rose to $95.8 million, or $1.12 a share, from $78.2 million, or 92 cents a share, a year earlier. Herbalife projected second-quarter adjusted earnings per share of $1.10 to $1.20 and revenue growth of flat to up 3%.
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