Midday Report: WebMD Denies Sale Reports; Stocks Up on Crude Rally

U.S. stocks made a surprise bounce higher shortly after sinking into the red.

Author:: Keris Alison Lahiff
Publish date:: Jan 14, 2016 1:24 PM EST

Stocks made a surprise bounce higher shortly after sinking into the red. The S&P 500 jumped nearly one percent as a long-overdue rally in crude oil prices boosted the energy sector. WebMD (WBMD) slumped after denying speculation it is in talks with potential buyers. Walgreens (WBA) and UnitedHealth (UNH) were two possible bidders, according to reports. GoPro (GPRO) tumbled after it announced plans to cut 7 percent of its workforce. The action camera maker also issued disappointing fourth-quarter sales forecasts as it continues to face weakening demand and lackluster sales. Twitter (TWTR) hovered near an all-time low set a day earlier, putting pressure on CEO Jack Dorsey to deliver a turnaround. The social media company is now down around 30 percent from its IPO price two years ago. TheStreet's Keris Lahiff has details from Wall Street.