Subscribe to our newsletter

Wall Street Gains, Apple NASDAQ:AAPL Falls

CRUS, NFLX, FFIV, AAPL, CSCO, JBHT, CHRW, CNW, VIX
The major averages finished Thursday’s mixed. The DJIA finished higher by 0.3% outperforming as 19 components posted gains.

Looking at the S&P 500 sector breakdown, technology was the biggest laggard -2.0%, followed by telecoms -0.3%, and materials +0.2%. On the upside; consumer discretionary +0.7%, and health care +0.7% stocks saw overall strength on the day.

The NAS trailed the broad market on the day after a disappointing earnings report from Apple AAPL 450.50, -63.50 sent the stock lower by 12.4%.

Watching the VIX: The CBOE Volatility Index VIX 12.76, +0.30 advanced 2.4% after being up as much as 8.2% intra-day, the VIX remains near its 5-yr low.

DJIA +46.00 at 13825.33, NAS -23.29 at 3130.38, S&P 500 +0.01 at 1494.82

While the largest tech stock saw its biggest percentage drop in more than 4 yrs, its suppliers held up fairly well.

Cirrus Logic NASDAQ:CRUS 26.71, -3.24 was an exception, falling 10.8% ahead of its earnings report scheduled for Thursday after the Closing Bell

Netflix NASDAQ:NFLX 146.86, +43.60 was a notable standout as the stock rose 42.2% after its Q-4 results handily beat the earnings and revenue estimates. The video streaming service guided Q-1 top and bottom line above consensus.

F5 Networks NASDAQ:FFIV 103.22, +4.41 gained 4.5% despite reporting in-line revenue and a bottom line miss. The results were topped off with upside second quarter earnings guidance, which caused some buying interest. Cisco Systems NASDAQ:CSCO 21.02, +0.40 added 1.9%.

The Dow Jones Transportation Average ended the session with a gainer of 1.7%. The bellwether complex, which has risen over 10% since 1 January, saw all-around strength, trucking stocks outperformed.

JB Hunt NASDAQ:JBHT 67.57, +4.11, rose 6.5% after its Q-4 earnings beat the bottom line. Con-way NYSE:CNW 33.00, +1.88, and CH Robinson HASDAQ:CHRW 67.21, +1.46 finished with respective gains of 6.0% and 2.2%.