(By Balachander) U.S. stocks closed on a mixed note amid lingering worries about the financial situation in Europe and tepid domestic economic data.
S&P 500 Index added 0.14 percent to finish at 1,320.68. The Dow Jones Industrial Average gained 0.27 percent to end at 12,529.75. The Nasdaq Composite Index dropped 0.38 percent to close at 2,839.38.
On the US economic front, the number of Americans who continued to receive jobless benefits came in line with expectations, a government data showed. Jobless claims fell 2,000 to 370,000 last week, while economists projected claims to drop to 370,000. A report from the Commerce Department showed orders for non-military goods excluding aircraft dropped for the second straight month falling 1.9 percent after a 2.2 percent decline in March.
On the European news front, the leaders of European Union backed Greece's stay in the euro zone while respecting its commitments. European Council President Herman Van Rompuy said it was vital for Greece to implement the reforms agreed in the bailout deals for overcoming its financial mess.
Hot Stocks Of The Day: HPQ, TIF, NTAP, FLO, P, MNRO, SIG, PVH
In corporate news, Hewlett-Packard Co. (NYSE:HPQ) added 3.30 percent after the PC maker reported better-than-expected quarterly earnings, and said it would cut 8.0 percent of its workforce or roughly 27,000 jobs. The company also raised full-year profit guidance.
Tiffany & Co. (NYSE:TIF) lost 6.81 percent after the jeweler lowered its 2012 forecast as first-quarter earnings trailed Wall Street projections citing under-performance in the Americas region.
NetApp Inc. (NASDAQ:NTAP) tumbled 12.33 percent after the provider of storage and data management services guided first quarter below Wall Street's view citing normal slower seasonality. The company posted a rise in first-quarter adjusted profit.
Flowers Foods Inc. (NYSE:FLO) gained 7.15 percent after the maker of fresh bakery foods reported better-than-expected quarterly revenue, helped by contributions from the Tasty acquisition and increases in volume.
Pandora Media Inc. (NYSE:P) jumped 12.20 percent after the internet radio company narrowed its loss forecast and increased its revenue view for 2013.