The U.S. market remained volatile during the afternoon session Friday after suffering heavy losses a day before, as investors kept a close watch on European stock and government bond markets ahead of data on leading economic indicators.
The Dow Jones industrial average rose 0.39 percent or 45.63 points to trade at 11,816.67. The Nasdaq Stock Market Inc. composite index slipped 0.07 percent or 2.01 points to trade at 2,586.15. The Standard & Poor's 500 index was down 0.25 percent or 3.11 points to trade at 1,219.24. Among other major indices, the New York Stock Exchange composite index gained 0.41 percent or 30.16 points to trade at 7,304.31. The American Stock Exchange composite index was up 0.53 percent or 11.76 points to trade at 2,248.32.
Hot Stocks of the Day: HNZ, BA, HIBB, EK
HJ Heinz Co. (NYSE: HNZ) reported net income of $237 million, or $0.73 per share in its fiscal 2012 second quarter, versus $251 million, or $0.78 per share last year. Analysts had forecasted EPS of $0.80 for the company. Sales in the quarter ended October 26, 2011 grew to $2.83 billion. Shares were down 2.03 percent, or $1.07, to trade at $51.75.
Boeing Co. (NYSE: BA) announced that Indonesia's Lion Air has committed to a deal for 230 airplanes at a list price of $21.7 billion. It's the largest commercial-airplane order ever in Boeing's history by both dollar volume and total number of airplanes. Shares of BA gained 0.44 percent, or $0.29, to trade at $66.38.
Hibbett Sports Inc. (Nasdaq: HIBB) reported 27 percent increase in its FY 2011 Q3 net income to $16 million, or $0.59 a share, from $12.6 million, or $0.44, in the year-earlier quarter. Sales rose to $185.2 million from $167.4 million. Analysts had estimated a net profit of $0.51 a share of profit on $180 million of sales. Shares gained 3.18 percent, or $1.37, to trade at $44.51.
Eastman Kodak Co. (NYSE: EK) plans to sell its online photo-sharing business. It has approached photo-sharing websites, competitors, private-equity firms and retailers about buying the unit, which enables users to store their digital photos and print them out into scrapbooks, cards and calendars for a fee.