Indexes Score Solid Gains; LinkedIn Pops Ahead Of Earnings

Major averages opened with strong gains Thursday and were still holding them about two hours into the session.

The Nasdaq led the way, rising 1.1%. The Dow Jones industrial average and S&P 500 gained 0.9% each. Volume in the early going was tracking well below Wednesday's levels.

In economic news, weekly jobless claims fell 20,000 to 331,000. Economists expected a smaller drop to 337,000. The data come ahead of Friday's jobs report. Nonfarm payrolls are expected to come in at 181,000 after dismal job growth of 74,000 in December.

Meanwhile, the European Central Bank left its main lending rate unchanged. Mario Draghi took a page out of the Fed's playbook, pledging to keep interest rates "at present or lower levels for an extended period of time."

In the stock market today, LinkedIn (LNKD) rallied 2% ahead of its earnings report after the close. The stock has turned into a bit of a laggard. It's been consolidating gains since September, trying to hold above its 200-day moving average. Analysts polled by Thomson Reuters expect earnings to rise 9% to 38 cents a share, with sales up 44% to $437.8 million.

Among the day's movers, Green Mountain Coffee Roasters (GMCR) soared 30%. Late Wednesday, the company reported sluggish sales growth, but investors focused on news that Coca-Cola (KO) is buying a 10% stake in the company for $1.25 billion. Green Mountain is known for its Keurig single-serve coffee makers and is developing a machine for cold drinks.

Yelp (YELP) also soared on strong earnings. Shares jumped 21% after the company matched estimates for a loss of 3 cents a share. Sales growth was strong again, rising 72% to $70.7 million. In fiscal 2014, Yelp is expected to earn 17 cents a share. Annual profit is seen soaring 229% in fiscal 2015.

Akamai Technologies (AKAM) gapped out of a 16-week consolidation, rising 19%, on strong earnings. A Relative Strength Rating of 62 points toward sluggish price performance in recent months, but buyers were in the stock in spades Thursday.

Major averages opened with strong gains Thursday and were still holding them about two hours into the session.

The Nasdaq led the way, rising 1.1%. The Dow Jones industrial average and S&P 500 gained 0.9% each. Volume in the early going was tracking well below Wednesday's levels.

In economic news, weekly jobless claims fell 20,000 to 331,000. Economists expected a smaller drop to 337,000. The data come ahead of Friday's jobs report. Nonfarm payrolls are expected to come in at 181,000 after dismal job growth of 74,000 in December.

Meanwhile, the European Central Bank left its main lending rate unchanged. Mario Draghi took a page out of the Fed's playbook, pledging to keep interest rates "at present or lower levels for an extended period of time."

In the stock market today, LinkedIn (LNKD) rallied 2% ahead of its earnings report after the close. The stock has turned into a bit of a laggard. It's been consolidating gains since September, trying to hold above its 200-day moving average. Analysts polled by Thomson Reuters expect earnings to rise 9% to 38 cents a share, with sales up 44% to $437.8 million.

Among the day's movers, Green Mountain Coffee Roasters (GMCR) soared 30%. Late Wednesday, the company reported sluggish sales growth, but investors focused on news that Coca-Cola (KO) is buying a 10% stake in the company for $1.25 billion. Green Mountain is known for its Keurig single-serve coffee makers and is developing a machine for cold drinks.

Yelp (YELP) also soared on strong earnings. Shares jumped 21% after the company matched estimates for a loss of 3 cents a share. Sales growth was strong again, rising 72% to $70.7 million. In fiscal 2014, Yelp is expected to earn 17 cents a share. Annual profit is seen soaring 229% in fiscal 2015.

Akamai Technologies (AKAM) gapped out of a 16-week consolidation, rising 19%, on strong earnings. A Relative Strength Rating of 62 points toward sluggish price performance in recent months, but buyers were in the stock in spades Thursday.

See Also

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Stocks dipped in early action Tuesday, as investors took in a raft of mixed earnings reports and weak February auto sales.The Nasdaq and the S&P 500 slipped 0.5% each. The Dow Jones industrial average nosed down 0.4%. Volume-wise, the stock market today got off to a weak start, with volume down ...

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03/02/2015 06:38 PM ET

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