Closing Bell: Tinder Boosts Match; Earnings Drive S&P 500 Higher

Another busy day on the earnings calendar kept trading erratic again on Thursday, though the S&P 500 and Nasdaq managed to clinch slight gains by the end of the session.
Author:
Publish date:

Another busy day on the earnings calendar kept trading erratic again on Thursday, though the S&P 500 and Nasdaq managed to clinch slight gains by the end of the session. Crude didn't have as good a day, though, plumbing fresh three-month lows. Drugmaker AstraZeneca  (AZN) - Get Report jumped on a better-than-expected second quarter. Sales of new drug treatments helped to offset declining revenue from cholesterol drug Crestor which has seen generic competition crop up after its patent expired. Deutsche Bank made the case for Bank of America (BAC) - Get Report in a bullish note, favoring the North Carolinian institute over competitor JPMorgan (JPM) - Get Report . Analysts said Bank of America is better positioned with less consumer credit risk. Match (MTCH) - Get Report declined after warning investors of slowing growth. Even so, the company did manage a 41 percent increase in second-quarter profit thanks to strength in its dating app Tinder.