Upbeat earnings among blue chip stocks lifted the Dow 65 points to close at 13,029. The tech heavy Nasdaq lost 7 points to 3000 on disappointing results from SanDisk.
On the upside
First quarter earnings slipped for Ixia (Nasdaq: XXIA) but revenue climbed to top analyst expectations and the company forecast current quarter income ahead of estimates.
A.O. Smith (NYSE: AOS) reported sharply higher first quarter earnings that beat analyst expectations.
Under Armour (NYSE: UA) reported higher first quarter earnings and revenue that surpassed analyst expectations prompting the athletic wear maker to raise its full year guidance.
On the downside
Extreme Networks (Nasdaq: EXTR) warned that third quarter revenue and earnings will fall short of previous guidance and cut its full year outlook.
Expeditors International of Washington (Nasdaq: EXPD) warned that first quarter earnings will miss analyst expectations.
Royal Caribbean Cruises (NYSE: RCL) reported lower first quarter earnings and warned of lower income for the current quarter as bookings dropped.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 804.
