The major indices looked to follow up Tuesday’s gains with a day of broad losses Wednesday, but they managed to finish just about flat after a roller-coaster day that saw stocks recover, fall, then recover once again.
When all was said and done, both the S&P 500 and Dow Jones Industrial Average were marginally higher on the day — to $1,512.12 and 13,986.52, respectively — while the Nasdaq dropped 0.1% to 3,168.48
With no big economic reports out today and none on the immediate horizon, investors instead focused on earnings and other corporate news.
Media conglomerate Time Warner (NYSE:TWX) posted better-than-expected earnings and hiked its dividend by 11%, and investors responded by bidding shares up 4%. Media subscription service company Netflix (NASDAQ:NFLX) joined in the party, rising nearly 6% on no particular news.
Entertainment giant Disney (NYSE:DIS) reported earnings and revenues that beat analysts’ forecasts, but the reaction was fairly dull, with shares recording just marginal gains. Meanwhile, 3M (NYSE:MMM) perked up 1% after announcing an 8% improvement to its first-quarter dividend.
Three-dimensional printer maker 3D Systems (NYSE:DDD) rose more than 4% after announcing a 3-for-2 split of its fast rising stock, effective Feb. 22 for shareholders of record as of Feb. 15. Shares of 3D have more than tripled in the past year.
- Shutterfly (NASDAQ:SFLY): Up 20.3% ($6.81) to $40.40.
- First Solar (NASDAQ:FSLR): Up 7.3% ($3.11) to $31.13.
- Ralph Lauren (NYSE:RL): Up 5.9% ($9.72) to $174.63.
- Gamestop (NYSE:GME): Down 6% ($1.61) to $25.20.
- Aruba Networks (NASDAQ:ARUN): Down 4.8% ($1.12) to $22.41.
- Aflac (NYSE:AFL): Down 4.3% ($2.31) to $51.18.
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing, he was long TWX.