The major indexes delivered somewhat mixed results Thursday, but action among top-rated stocks was encouraging.
The Nasdaq tacked on 0.4%, the Dow 0.2% and the S&P 500 0.1%. The NYSE composite fell 0.1%.
Volume rose 5% on the NYSE and fell 9% on the Nasdaq. The NYSE's higher-volume loss was too small to be considered a distribution day.
Ideally, the Nasdaq's gain would have been in higher volume. Still, trading was above average as the index made another new high for the year. All indexes but the NYSE rose for a sixth straight session.
A handful of top-rated stocks rose in heavy volume, and hardly any dropped in fast trade. But a few key stocks tumbled on earnings reports after the closing bell.
Google (GOOG) reported that earnings jumped 31% and core revenue 24%. That topped expectations by a modest margin. The most bullish analysts had expected even more.
Google, which cleared a low handle earlier in the week, fell about 5% after hours. The stock represents more than 4% of the Nasdaq index, so it will likely weigh on the composite Friday.
Intuitive Surgical (ISRG) spent much of the session down but rallied in the final 15 minutes. It finished up 1% in more than double its usual trade. Over the past six sessions, Intuitive has gained 16%.
After hours, Intuitive's results were stellar. The company reported earnings of $2.12 a share in the first quarter vs. the $1.68 expected by the Street. That represented an EPS increase of 194% vs. the year-ago quarter.
Revenue also trounced expectations. Intuitive initially rose 2% in after-hours trade but then fell about 4%. The stock had just broken out of a flat base on Tuesday.
Advanced Micro Devices (AMD) also reported results after Thursday's close. It topped expectations but fell more than 5% in after-hours trade.
In the regular session, Lululemon Athletica (LULU) marked a new high. It popped 1% in heavy volume.
The Vancouver-based company is 36% past its 33.05 buy point.
Green Mountain Coffee Roasters (GMCR) shaved less than 1% in fast trade. But it was down as much as 5% intraday. It finished near the top of the day's range.
The provider of single-cup coffee packets and brewing systems is scheduled to report quarterly results on April 28. Analysts expect an 82% EPS pop and a 67% increase in revenue.
Economic news Thursday was mixed. Weekly jobless claims and industrial output in March were worse than expected. Manufacturing indexes in New York and Philadelphia topped analysts' consensus forecasts.
