Midday Wrap: Earnings Season Drives Trading Thursday

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The major indices were muted in trading Thursday, led by a 0.6% jump in the Nasdaq and a 0.3% decline in the Dow Jones Industrial Average. 

Earnings season has replaced the China trade war as the driving force behind trading for the time being, and some stocks are taking advantage.

ServiceNow (NOW) - Get Report shares jumped 8% following the release of its latest quarterly results. 

The company reported earnings of $1.03 a share on revenue of $885.8 million, a 32% year-over-year increase. Analysts were expecting the company to report earnings of 99 cents a share on revenue of $886 million.

"We delivered another strong quarter, continuing our focus on driving customer success and expanding our footprint across 75% of the Fortune 500," said current CEO John Donahoe.

Meanwhile, share of Invisalign braces maker Align Technology (ALGN) - Get Report  were up nearly 12% Thursday after the company topped analysts' third-quarter earnings and revenue expectations.

The San Jose-based company reported third-quarter earnings of $1.28 a share on revenue that jumped 20.2% year over year to a record $607.3 million. Analysts were expecting the company to report earnings of $1.14 a share on revenue of $593.97 million.