The Nasdaq led while the Dow Jones industrials and S&P 500 eked out small gains in today's stock market after a mild up-and-down session.
XAfter the close, Uber (UBER) shares were up nearly 3% after the car service posted a Q1 loss in line with estimates and slightly beat on revenue. The stock is still about 9% below its May 10 offering price of $45 a share.
The Nasdaq advanced 0.3%, the S&P 500 climbed 0.2% and the Dow Jones Industrial Average edged nearly 0.2% higher. Small caps lagged as tracked by the Russell 2000, which fell 0.3%. Preliminary data showed lighter volume on the NYSE and Nasdaq vs. Wednesday.
Verizon (VZ) weighed on the Dow Jones index with a 2.3% loss. The stock gapped down below its 50-day moving average to test the 200-day line. It's been shaping a cup with handle base with a 61.29 buy point since November.
Walgreens Boots Alliance (WBA) and Chevron (CVX) gave up about 1% each. WBA is trading at its lowest level in years, while Chevron is at a four-month low. A 4% drop in West Texas intermediate crude prices to $56.55 a barrel didn't help.
That sent oil and gas ETFs down sharply. SPDR S&P Oil & Gas Exploration & Production (XOP) skidded 2.6% and VanEck Vectors Oil Services (OIH) sank 1.9%. Both ETFs are more than 40% off their 52-week highs. Energy Select Sector SPDR (XLE) and iShares U.S. Energy (IYE) gave up 1.3% each and are about 23% off their 52-week peaks.
Biggest Dow Jones gainers included Coca-Cola (KO) and McDonald's (MCD), up a respective 1.3% and 1.6%. Intel (INTC) added 1.1%, as chip stocks got a small bounce.
Medical software, discount retailers and gold miners led the upside among industry group gainers. Oil, steel and security software makers lagged.
IBD 50 Software Leader Soars
IBD 50 medical software stock Veeva Systems (VEEV) soared 15% to a new high in fast turnover. It's well extended from a 101.49 double-bottom entry and several bounces off its 50-day line. After the close Wednesday, the company delivered Q1 results that topped views and offered strong guidance.
Among other IBD 50 winners, Epam Systems (EPAM) rallied nearly 4% to retake its 50-day line. The tech services provider is consolidating just below the support line and may be forming a new flat base.
Palo Alto Networks (PANW), down 5% in heavy trade, was the biggest IBD 50 loser. Shares tumbled below the 200-day line for the first time in over four months. The cybersecurity company late Wednesday beat fiscal Q3 profit and sales views. But its current-quarter earnings guidance disappointed.
China stock Autohome (ATHM), the other big loser on the IBD 50, shed 3.7%. Shares triggered a sell signal earlier this month after diving more than 8% below a 111.70 buy point of a cup with handle.
The Innovator IBD 50 ETF (FFTY) climbed 1% in today's stock market.
Follow Nancy Gondo on Twitter at @IBD_NGondo
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