Updated from 4:32 p.m. EDT

Stocks in New York were mixed for most of the session, but they turned higher late Thursday and closed positive as investors waded through another set of corporate earnings and economic data.

The

Dow Jones Industrial Average

gained 95.81 points, or 1.2%, to 8125.43, and the

S&P 500

rose 13.24 points, or 1.6%, to 865.30. The

Nasdaq

added 43.64 points, or 2.7%, to 1670.44.

Technology stocks performed particularly well, with

Hewlett-Packard

(HPQ) - Get Report

and

Microsoft

(MSFT) - Get Report

rising 5% and 4.9%, respectively, on the Dow.

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Investors had their eyes on

Google

(GOOG) - Get Report

at the close. Google reported quarterly revenue of $4.1 billion after subtracting traffic acquisition costs, roughly in line with expectations, and topped profit estimates, earning $5.16 a share. Shares rose 2.4% during the regular session and nearly 5% after the report.

JP Morgan

was the headliner of the day earlier after it also topped analysts' estimates.

Ever since

Wells Fargo

(WFC) - Get Report

reported better-than-anticipated preliminary results, followed by

Goldman Sachs'

(GS) - Get Report

estimate-topping first-quarter earnings, Wall Street has been

digging for details

and simultaneously expressing some skepticism.

More bank earnings are close at hand, with

Citigroup

(C) - Get Report

set to report on Friday and

Bank of America

(BAC) - Get Report

on Monday.

The banks had an uneven day. JP Morgan added 2.1%, and

Citigroup

(C) - Get Report

rose 1%. Bank of America lost almost 1%, Wells Fargo fell 0.5%, and Goldman Sachs shares were flat.

In other earnings,

Nokia

(NOK) - Get Report

said profits slumped a whopping 90% in the first quarter, but analysts had expected even worse. Shares climbed 11.4% to $14.88 as the mobile-phone maker indicated it's seeing

signs of stability

.

A drag on the mood came away from earnings, when the nation's second-largest mall operator,

General Growth Properties

(GGP)

, was forced to file for bankruptcy protection.

On the bright side,

Rosetta Stone

(RST) - Get Report

had the first

initial public offering

in nearly a year to price above its expected range. The company said late Wednesday that 6.25 million shares of common stock priced at $18 a share, vs. the predicted range of $15 to $17 a share. Shares soared $7.12, or almost 40%, to $25.12.

Sun Microsystems

(JAVA)

was back in the news after

CNBC

reported it went back to dismissed bidder

IBM

(IBM) - Get Report

to ask it to return to the negotiating table. However, IBM is not interested "at any price" due to worries over prospective regulatory scrutiny, according to the report that cited sources close to IBM. Sun's shares added 4.4% to $6.40, while IBM tacked on 2.6% to $101.43.

Meanwhile,

eBay

(EBAY) - Get Report

said it plans to pay as much as $1.2 billion to purchase a

majority stake

in South Korea's top online marketplace

Gmarket

(GMKT)

. Shares of eBay edged up 0.6%, while Gmarket surged 19.2% to $23.79.

Also, drugmakers

GlaxoSmithKline

(GSK) - Get Report

and

Pfizer

(PFE) - Get Report

confirmed they plan to join their HIV-drug businesses, establishing a

new company

that is 85%-owned by Glaxo. Shares of Glaxo lost 1 cent, and Pfizer ticked up 4 cents.

The day also brought mixed economic data. Housing starts fell to 510,000 in March from 572,000 in February and were 30,000 fewer than expected. There were 513,000 new building permits vs. an upwardly revised 564,000 in February and about 36,000 fewer than predicted.

"Fewer home starts and permits mean that we are undergoing a clearing mechanism for inventory," says Walter Gerasimowicz, chairman and CEO of Meditron Asset Management, adding that clearing inventory and stabilizing real estate prices will be central in getting out of the economic downturn.

Housing starts have now fallen to levels well below what's needed to support population growth, says Tony Crescenzi, chief bond strategist at Miller Tabak, on his

RealMoney.com

blog."The bottom-line is that empty homes will become occupied one way or another so long as builders under-build relative to population growth," he writes.

In other data, the Department of Labor said new weekly jobless claims narrowed to 610,000 from 663,000, almost 50,000 below analysts' consensus forecast.

Longer-dated U.S. Treasuries were falling. The 10-year was losing 16/32 to yield 2.8%, while the 30-year dropped 27/32, yielding 3.7%. The dollar was recently stronger against the pound, euro and yen.

As for commodities, oil rose 73 cents to settle at $49.98 a barrel, while

gold slid

$13.70 to $879.80 an ounce.

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