Wall Street edged up on Thursday from the previous session’s losses, as the market digested better-than-expected manufacturing data from the U.S., China and the Eurozone; however, a technical glitch halted trading in Nasdaq securities shortly after 12 p.m. Eastern.
On the earning front, investors weighed weaker-than-forecast corporate earnings results from Abercrombie & Fitch Co. (NYSE: ANF) and Sears Holdings Corp. (NASDAQ: SHLD). After the bell on Thursday, investors will be eyeing a series of tech and retailer earnings from Pandora Media Inc., Marvell Technology Group Ltd., Aeropostale Inc. and The Gap Inc.
Pandora Media Inc. (NYSE:P) is expected to report a second quarter loss of 3 cents a share on revenue of $156.2 million, according to analysts polled by Reuters. The estimates compare to a loss of 3 cents a share on revenue of $101.3 million a year earlier.
Shares of Pandora Media Inc. edged up 0.28 percent to $21.55 in afternoon trading.
Also after the market closes on Thursday, Marvell Technology Group Ltd. (NASDAQ:MRVL) is forecast to issue second quarter earnings of 9 cents per share on revenue of $790.5 million, compared with earnings of 16 cents per share on revenue of $816.1 million a year-ago.
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Marvell Technology Group Ltd. fell 0.31 percent to $13.01 per share ahead of the report.
While Abercrombie & Fitch reported disappointing results on Thursday morning, The Buckle, on the other hand, said second quarter net income rose 8 percent. Retail investors will be keeping a close eye on Aeropostale and The Gap to see how tax hikes earlier this year will impact teen apparel retailers.
Aeropostale Inc. (NYSE:ARO) is estimated to book a second quarter loss of 25 cents a share on revenue of $453.97 million. The retailer reported a profit of 0 cent a share on revenue of $485.3 million in the same year-ago period.
Shares of Aeropostale Inc. dropped 2.80 percent to $11.10 in mid-day trading.
The Gap Inc. (NYSE:GPS) is expected to report second quarter earnings of 61 cents per share on revenue of $3.83 billion, compared with earnings of 49 cents per share on revenue of $3.6 billion in the year-ago period.
On Thursday, The Gap Inc. fell 1.71 percent to $41.95.
The Dow Jones industrial average rose 54.04 points, or 0.36 percent, at 14,951.59. The S&P 500 Index was up 11.71 points, or 0.71 percent, at 1,654.48. The Nasdaq Composite Index gained 31.38 points, or 0.87 percent, at 3,631.17.