The S&P 500 was up 0.16%, the Dow Jones Industrial Average fell 0.1%, and the Nasdaq was rose 0.27%.
The earnings season charged ahead with a rush of reports out overnight and Thursday morning that captured investors' attention. The second-quarter season is nearly halfway done. Blended quarterly earnings are expected to decline 3% this quarter. So far, 72% of those companies which have reported have exceeded earnings estimates.
Facebook jumped 1% after breezing past second-quarter estimates. Ad sales at Facebook rose 63% to $6.24 billion, accelerating from a 57% rise in the first quarter and fourth quarter. Around 84% of second-quarter ad revenue came from mobile. Facebook warned that ad growth will slow in the third and fourth quarter as it deals with tougher annual comparisons.
"Bottom line: Facebook has mastered how to advertise on mobile and social effectively and profitably while maintaining the incredible user experience," wrote TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS Charitable Trust Portfolio, and research director Jack Mohr. (AAP holds Facebook in its portfolio). "The balance is key in this business in order to keep both users and advertisers happy. Facebook has put together a team that can cater to both sides of the spectrum. What a glorious time to be a Facebook shareholder, indeed."
Groupon surged despite swinging to a quarterly loss. The coupon site reported a net loss of 10 cents a share, down from 16 cents a share in profit a year earlier. Revenue rose just over 2% to $756 million. Groupon raised its full-year sales forecast to $3 billion to $3.1 billion, up from a previous range of $2.75 billion to $3.05 billion.