US open: Stocks mixed as traders digest corporate earnings

(Sharecast News) - Wall Street trading got off to a mixed start on Thursday as corporate earnings took centre stage.

As of 1530 GMT, the Dow Jones Industrial Average was down 0.14% at 44,809.83, while the S&P 500 advanced 0.15% to 6,070.30 and the Nasdaq Composite came out the gate 0.19% firmer at 19,729.87.

The Dow opened 63.45 points higher on Thursday, taking a modest bite out of gains recorded in the previous session.

Earnings from a number of the nation's biggest semiconductor firms were in focus early on Thursday, with Qualcomm and Arm both heading south as their latest sets of quarterly figures disappointed investors.

Ford shares also traded lower after the automotive giant warned of a difficult year ahead in FY25, while Honeywell lost ground after issuing FY guidance that fell short of analysts' expectations and announced that it will break itself up in a three-way split following pressure from activist investor Elliott Investment Management, and fast food business Yum Brands said quarterly earnings and revenue had beat estimates thanks to strong sales at KFC's international locations and Taco Bell.

Drugmaker Eli Lilly posted a surge in Q4 revenues on, fuelled by strong demand for its blockbuster diabetes and weight-loss drugs, while shares in fellow pharmaceutical giant Bristol Myers Squibb headed south in early trading as its solid Q4 revenue performance was offset by FY25 guidance that fell short of Wall Street expectations.

Strong sales of vapes and nicotine pouches helped tobacco giant Philip Morris International beat forecasts with its fourth-quarter results, Peloton's share price raced ahead after the fitness equipment maker impressed with a strong set of Q2 sales figures and upgraded its full-year forecasts, and fashion brand Ralph Lauren lifted annual revenue guidance after reporting better-than-expected Q3 earnings, as wealthy customers splashed out on its range of clothing.

Amazon was slated to report earnings after the close.

On the macro front, Americans lined up for unemployment benefits at an accelerated pace in the week ended 1 February, according to the Labor Department. Initial jobless claims rose by 11,000 to 219,000, above market expectations for a smaller increase to 213,000, while continuing claims rose by 26,000 to 1.88m, also coming in ahead of expectations of 1.87m, The four-week-moving average, which aims to strip out week-to-week volatility, rose by 4,000 to 216,750 on the back of sharp increases in New York and California.

On another note, a preliminary reading of Q4 non-farm productivity showed that business sector labour productivity increased by 1.2%, according to the Bureau of Labor Statistics, short of expectations for a 1.4% rise and following a revised 2.3% improvement in Q3. Output grew 2.3%, while hours worked rose 1.0%. On an annualised basis, labour productivity was up 1.6%.

Still to come, December consumer credit change figures will be published at 2000 GMT.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Walgreens Boots Alliance, Inc. (WBA) $10.22 3.29%

Intel Corp. (INTC) $19.56 3.05%

McDonald's Corp. (MCD) $295.94 2.46%

Caterpillar Inc. (CAT) $367.14 2.31%

Boeing Co. (BA) $185.71 2.13%

Amgen Inc. (AMGN) $304.28 1.89%

Cisco Systems Inc. (CSCO) $62.34 1.56%

Goldman Sachs Group Inc. (GS) $655.38 1.54%

Apple Inc. (AAPL) $232.89 1.42%

Dow Chemical Co. (DOW) $38.47 1.36%

Dow Jones - Fallers

Salesforce.Com Inc. (CRM) $334.94 -3.73%

Unitedhealth Group Inc. (UNH) $530.33 -1.76%

Merck & Co. Inc. (MRK) $88.49 -1.32%

International Business Machines Corporation (CDI) (IBM) $260.40 -1.10%

Walt Disney Co. (DIS) $109.48 -0.96%

Verizon Communications Inc. (VZ) $39.77 -0.89%

Johnson & Johnson (JNJ) $153.61 -0.70%

Chevron Corp. (CVX) $152.41 -0.38%

Procter & Gamble Co. (PG) $168.61 -0.23%

Visa Inc. (V) $348.73 -0.20%

S&P 500 - Risers

Ralph Lauren Corp (RL) $288.03 15.67%

Tapestry Inc. (TPR) $84.27 14.84%

Philip Morris International Inc. (PM) $141.70 8.18%

Yum! Brands Inc. (YUM) $141.64 7.92%

Lincoln National Corp. (LNC) $35.81 6.04%

Micron Technology Inc. (MU) $96.16 5.59%

Hilton Inc (HLT) $272.10 5.52%

Mattel Inc. (MAT) $21.75 5.38%

Mondelez International Inc. (MDLZ) $58.18 5.38%

IQVIA Holdings Inc. (IQV) $215.15 4.73%

S&P 500 - Fallers

Skyworks Solutions Inc. (SWKS) $66.50 -22.87%

Helmerich & Payne Inc. (HP) $28.97 -12.73%

Ford Motor Co. (F) $9.32 -6.80%

Hologic Inc. (HOLX) $66.98 -6.37%

Equifax Inc. (EFX) $254.21 -5.93%

McKesson Corp. (MCK) $576.45 -5.02%

National Oilwell Varco Inc. (NOV) $15.66 -4.66%

Snap On Inc. (SNA) $341.14 -4.20%

AFLAC Inc. (AFL) $102.86 -4.13%

Salesforce.Com Inc. (CRM) $334.94 -3.73%

Nasdaq 100 - Risers

Micron Technology Inc. (MU) $96.16 5.59%

Mondelez International Inc. (MDLZ) $58.18 5.38%

Workday, Inc. (WDAY) $281.10 5.25%

Sirius XM Holdings Inc (SIRI) $26.04 4.54%

Microchip Technology Inc. (MCHP) $53.96 4.29%

Lam Research Corp. (LRCX) $82.33 4.20%

Align Technology Inc. (ALGN) $225.42 4.12%

Nvidia Corp. (NVDA) $126.89 4.02%

Marriott International - Class A (MAR) $301.94 3.87%

Cognizant Technology Solutions Corp. (CTSH) $86.01 3.79%

Nasdaq 100 - Fallers

Skyworks Solutions Inc. (SWKS) $66.50 -22.87%

Hologic Inc. (HOLX) $66.98 -6.37%

Tesla Inc (TSLA) $366.08 -4.87%

QUALCOMM Inc. (QCOM) $168.92 -1.51%

Trip.com Group Limited (TCOM) $68.46 -1.49%

Take-Two Interactive Software Inc. (TTWO) $183.60 -1.32%

Dollar Tree Inc (DLTR) $75.01 -1.30%

Baidu Inc. (BIDU) $88.39 -1.21%

CSX Corp. (CSX) $32.78 -0.53%

Adobe Systems Inc. (ADBE) $439.37 -0.49%