First time applications for unemployment benefits edged up less than expected to lift the markets higher during the midday with Dow soaring 114 points to 17,956. Nasdaq gained 32 points to 4,952.
On the upside
Chegg (NYSE: CHGG) reported a loss for the first quarter but revenue rose to top analyst estimates and the company lifted its full year forecast.
Castlight Health (NYSE: CSLT) narrowed first quarter losses more than expected as revenue surged.
Career Education (Nasdaq: CECO) narrowed losses for the first quarter and announced plans to focus its resource on its university group.
On the downside
Dex Media (Nasdaq: DXM) narrowed first quarter losses but revenue fell.
First quarter earnings fell for Tumi (NYSE: TUMI).
Varonis Systems (Nasdaq: VRNS) widened losses more than expected for the first quarter and lowered its full year outlook prompting a downgrade.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 gained 11 points to 2091. Bitcoin added $2 to $233.
Markets climb on jobless claims data
May 07, 2015 at 14:03 PM EDT