This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks Gain on Upbeat Manufacturing Data; Facebook Pops on WhatsApp Deal

NEW YORK ( TheStreet) -- U.S. stocks gained Thursday as U.S. manufacturing data improved in February.

  • The Dow Jones Industrial Average closed up 0.58% to 16,133.23, while the S&P 500 was 0.6% higher at 1,839.78. The Nasdaq gained 0.7% to 4,267.54.
  • The Markit Economics preliminary index of U.S. manufacturing rose to 56.7 in February from 53.7 last month. This beat expectations for a result of 53.6. A level lower than 50 points to contraction. Regional results varied: the February Philadelphia Fed Index notched a fall in manufacturing conditions from 9.4 in January to -6.3 in February.
  • Jobless claims for the week of Feb. 15 fell 3,000 to 336,000 vs. an estimate of 335,000. The Consumer Price Index for January, released Thursday, increased by an as-expected 0.1%.
  • The flash Markit/HSBC Purchasing Managers' Index for China sank to a seven-month low of 48.3 in February from  49.5 in January. This further fueled fears of a slowdown in the world's largest emerging economy.
  • In stock news, Facebook (FB - Get Report) has also agreed to buy messaging company WhatsApp for $19 billion in cash and stock. Facebook shares increased 2.3% to $69.63, reversing early-morning losses. Blackberry (BBRY) shares also gained on news of the deal, up 3.8% to $9.35 amid speculation its messaging platform has been undervalued.
  • Tesla Motors (TSLA - Get Report) jumped 8.4% after forecasting sales of its Model S sedan would rise 56% this yearQuanta Services (PWR - Get Report) added 7.6% to $34.54 after announcing record revenue of $1.82 billion for the fourth quarter. 
  • Walmart (WMT) was the leading laggard in the Dow, falling 1.8% to $73.52 after providing a worse-than-expected full-year outlook. The company posted fourth-quarter revenue of $129.7 billion vs. expectations of $130.23 billion.
  • In M&A news, Finland's Nokia (NOK) is considering buying Juniper Networks (JNPR - Get Report). Reports suggested Nokia would need to offer a premium to Juniper's market value of about $14 billion. Juniper shares rose 0.77% to $27.41.
  • In other stock news, Quanta Services (PWR - Get Report) was the top performer in the S&P 500 after the company increased its outlook for first-quarter adjusted earnings per share to $1.85 to $2.05, which was stronger than Wall Street's expectation of $1.85. Shares popped 7.6% to $34.55. DirecTV (DTV) advanced 2.9% to $75.08 after announcing a $3.5 billion stock repurchase program and reporting fourth-quarter results that topped expectations.  
  • The FTSE in the U.K. closed up 0.24% and the DAX in Germany was 0.43% lower. The Hong Kong Hang Seng closed down 1.19% and Japan's Nikkei 225 finished off 2.15%.
-- Written by Jane Searle and Joe Deaux in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FB $117.58 0.00%
JNPR $23.40 0.00%
PWR $23.72 0.00%
TSLA $240.76 0.00%
AAPL $93.74 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs