Stocks Close Mixed; Apple Puts Dent in Nasdaq
NEW YORK (TheStreet) -- Major U.S. stock averages traded mixed Thursday afternoon as better-than-expected U.S. economic indicators failed to push the Nasdaq back into positive territory amid Apple's(AAPL) sharp price decline.
The Dow Jones Industrial Average closed up 46 points, or 0.33%, at 13,825.
Breadth was positive, as winners outpaced losers 19 to nine. Hewlett-Packard (HPQ) and Walt Disney (DIS) were unchanged. The biggest percentage blue-chip gainers were Cisco(CSCO) , Home Depot(HD) , DuPont(DD) , Dupont(DD) and Boeing(BA) .
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Boeing shares rose 1.4%. Delta(DAL) is talking to Airbus and Boeing about buying $1 billion or more of new jets as planemakers phase out their current single-aisle models, people familiar with the matter told Bloomberg. Delta shares climbed 0.94%.
Software giant Microsoft is expected by analysts Thursday to report fiscal second-quarter earnings of 75 cents a share on revenue of $21.6 billion after the closing bell. Shares were up incrementally ahead of the announcement.
Alcoa(AA) , Intel(INTC) , Verizon(VZ) and Procter & Gamble(PG) shares were among the stocks that were trading lower.
3M (MMM) , the diversified technology company, posted in-line fourth-quarter earnings of $1.41 a share and revenue of $7.4 billion, which beat the Wall Street sales estimate of $7.18 billion. Organic local-currency sales grew 4.3% in the period, and acquisitions added 0.9% to sales. The stock added 0.23% a share on Thursday.
3M affirmed its 2013 full-year performance earnings expectations of $6.70 to $6.95 a share, with CEO Inge Thulin saying that 3M has "built good momentum to innovate and move forward in 2013."
The S&P 500 was effectively flat at 1495. Earlier Thursday the index crossed 1500 for the first time since December 2007. The Nasdaq fell 23 points, or 0.74%, at 3130.
Most sectors in the broader market were trading higher except for technology and basic materials. The strongest sectors were consumer cyclicals, transportation, health care, financials and conglomerates.