Stocks Rise Again

In earnings, Sears Holdings (SHLD Quote) swung to a surprise loss in the fiscal first quarter. Excluding items, the retailer lost 53 cents a share on dwindling revenue of $11.07 billion. Sears, which operates its namesake chain as well as Kmart, also added $500 million to its stock-buyback authorization. Shares were down 3.6%.

Big-box discount retailer Costco (COST Quote), meanwhile, said its earnings soared by nearly one-third to $295.1 million compared with a year earlier, when the company's bottom line was weighed down by a hefty charge. Costco topped analyst estimates for earnings and revenue. The stock traded on both sides of the flat line and finished down 12 cents at $73.12.

Shares of Dow component General Motors (GM Quote) saw mixed trading following reports that the automaker is considering further restructuring moves, possibly lowering production or cutting unpopular vehicle lines. That follows another report this week that Ford (F Quote) is looking to cut around 2,000 jobs. GM shares ended up 1.3%.

Elsewhere, media reports said that the chief executives of United Airlines operator UAL (UAUA Quote) and US Airways (LCC Quote) were meeting to discuss their potential merger. UAL shares rose 6.1% as U.S. Airways climbed 5.6%.

Also, Bear Stearns (BSC Quote) shares rose 1.8% to $9.55 after shareholders approved the all-stock takeout proposal by JPMorgan Chase (JPM Quote). JPMorgan added 1.7%.

Men's Wearhouse (MW Quote) was a notable loser, sliding 10.4% after the suits purveyor pulled its full-year outlook under the bottom end of its last projected range. The retailer posted a shrinking profit for the most recent quarter and missed analyst targets.