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) .
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.
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."
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.