The US stock indexes snapped their six-day long losing streak Thursday, thanks to encouraging government data on the country's trade deficit and job market.
The Dow Jones industrial average gained 0.63 percent or 75.49 points to close at 12,124.43. The Nasdaq Stock Market Inc. composite index added 0.35 percent or 9.49 points to end at 2,684.87. The Standard & Poor's 500 index was up 0.74 percent or 9.44 points to finish trading at 1,289. Among other major indices, the New York Stock Exchange composite index added 0.85 percent or 68.30 points to close at 8,149.65. The American Stock Exchange composite index gained 0.90 percent or 20.93 points to end at 2,351.40.
Hot Stocks of the Day: NSM, GM, KMGB, FDO, VRTX, WFC, MMI, S
National Semiconductor Corp. (NYSE: NSM) reported a decline in its fiscal fourth-quarter profit to $67.1 million, or 26 cents per share, down from $79.2 million, or 33 cents per share a year earlier. Revenue during the quarter fell to $374.1 million from $398.5 million previously. Analysts had estimated earnings of 27 cents per share on revenue of $365.2 million for the company. Shares were down 0.04 percent or 1 cent to close at $24.58.
General Motors Co. (NYSE: GM) announced that it is open to sell its struggling Europe's Adam Opel unit if it gets an offer more favorable than the one it rejected in 2009. Shares gained 2.04 percent or 59 cents to close at $29.45.
KMG Chemicals Inc. (Nasdaq: KMGB) registered 22 percent decline in its fiscal third-quarter net income to $2.61 million, or 23 cents per share, from $3.34 million, or 29 cents per share a year earlier. During the quarter, the company's revenue rose 26.1 percent to $65.1 million. Shares added 1.65 percent or 28 cents to close at $17.28.
Shares of Family Dollar Stores Inc. (NYSE: FDO) added 2.12 percent or $1.09 to close at $52.57 amidst reports that hedge fund manager William Ackman raised his stake in the company to 8.9 percent and become the discount retailer's biggest holder.
Vertex Pharmaceuticals Inc. (Nasdaq: VRTX) reported positive test results of its pipeline drug to treat cystic fibrosis. Shares were down 9.54 percent or $5.07 to close at $48.07.
Wells Fargo & Co.