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Midday Report: PayPal Tops Earnings, Approves Buybacks; Crude Sours Market Mood

Stocks turned mixed after a slump in crude oil prices overshadowed a series of positive earnings reports.

Stocks turned mixed after a slump in crude oil prices overshadowed a series of positive earnings reports. PayPal (PYPL) - Get PayPal Holdings Inc Report , Under Armour (UA) - Get Under Armour, Inc. Class C Report and Comcast (CMCSA) - Get Comcast Corporation Class A Report had topped earnings estimates. PayPal climbed after surpassing quarterly targets and after its board authorized a $5 billion stock repurchase program. Total payments volume grew 23% and neared a never-before-seen total of $100 billion. Buffalo Wild Wings (BWLD) fell short of earnings estimates, but reported in-line sales over its first quarter. The wings chain has recently been under pressure from activist investor Marcato Capital to shake up its management and board. Pending home sales in the U.S. fell in in March as tighter inventory continued to constrict high demand. The index, which measures sales where a contract has been signed but a deal not yet closed, fell by 0.8%.

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