Stocks had a hard time choosing a direction Thursday, preferring instead to hug the flatline -- and that's despite upbeat earnings reports from tech giants Apple ( AAPL) and eBay ( EBAY), two of the most-searched stocks on TheStreet.com.
Strong sales of the iPhone helped Apple lift its quarterly profit 15%, well ahead of Wall Street's expectations Wednesday and despite the global economic downturn. As for eBay, the company posted a drop in first-quarter profit that nevertheless topped Wall Street forecasts, as the company struggled to revive interest in its core Internet auction business. Among financials, Credit Suisse ( CS) was a hot ticker after the bank swung to a profit of 2 billion Swiss francs, $1.72 billion, in the first quarter from a year-earlier loss of 2.15 billion francs as the bank cut costs and strengthened its capital position Fifth Third Bancorp ( FITB) and PNC ( PNC) were also heavily searched following their better than expected earnings reports. Meanwhile, ConocoPhillips ( COP) reported that its first-quarter profit plunged, but it still came in ahead of expectations, as was the case at Occidental Petroleum ( OXY) another highly searched oil stock Shipping company UPS ( UPS), however, fell hard, after it missed estimates and said it isn't expecting an economic recovery to begin until 2010. The package carrier also projected a downside second-quarter profit. Back in tech, EMC ( EMC) joined the ranks of after it reported a 23% decrease in profit on revenue that came in lighter than expected. But the company predicted IT spending is poised for a rebound. Finally, Bank of America ( BAC) and Citigroup ( C) returned to the most-searched stocks list as fallout continues from Citigroup's angry shareholder meeting and revelations that Bank of America CEO Ken Lewis was pressured by the government to remain silent about Merrill Lynch's troubles prior to BofA buying the company.