| Stock Futures Hold Gains After Mixed Jobs, GDP Data and Stocks Edge Higher In Weak Trade; Tibco Bounces |
| News - Financial News |
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Stock futures held their early gains Thursday, showing little reaction to mixed unemployment and GDP growth data.Dow futures were steady, up 51 points. Nasdaq 100 futures climbed 10.75 points and S&P 500 futures were 5.9 points higher.Nearly all of the Dow's 30 stocks traded higher ahead of the opening, led by Kraft (KFT), Walt Disney (DIS) and JPMorgan (JPM).Initial jobless claims edged lower for a second week, down 4,000 to 364,000 for the week ended Dec. 10. Analysts had expected a rise to 380,000. The prior week's number was revised upward by 2,000 claims. [Read the full article] The Nasdaq rose 0.6%, while the S&P 500 gained 0.5%. The Dow Jones industrial average tacked on 0.3%.On the downside, Mead Johnson Nutrition (MJN) tumbled 8% in huge turnover, hit by news of Wal-Mart (WMT) pulling a batch of the infant formula maker's Enfamil product after the death of an infant. Reports said there was no known link between the infant's death from a bacterial infection and Enfamil, which tested negative for the bacterium, but Wal-Mart was pulling the formula "out of an abundance of caution."Mead Johnson has plunged below its 50-day moving average, after closing near an all-time high Wednesday. It has an IBD Composite Rating of 78 out of a highest-possible 99.On the upside, Advance Auto Parts (AAP) gained 1% in fast trade after being up as much as 3% earlier. The stock has sketched a 71.10 handle buy point in a first-stage base. The car parts retailer has a Composite Rating of 96, putting it above all but 4% of the market. [Read the full article] The Nasdaq advanced 0.8%, the S&P 500 0.7% and the Dow Jones industrial average 0.5%. Volume was down sharply on both major exchanges.Cloud-computing play F5 Networks (FFIV) added 2% in 20% faster volume. The stock appears to be finding support at its 50-day moving average.F5 has been working on a long consolidation since January. The pattern could be seen as a giant double-bottom base with a handle. But the correction runs 53% deep. The potential buy point is 117.40.The stock has a mildly bullish 1.1 up-down volume ratio, while the Accumulation-Distribution Rating is C, a neutral reading.On the downside, drug provider Perrigo (PRGO) cleared a 101.56 entry in a flat base in early trade. But the stock reversed lower and is back below the buy point. The base is first stage. A first- or second-stage breakout is more likely to work than a later-stage breakout. However, Perrigo has been trying to break out recently but hasn't been able to get the job done. [Read the full article] 
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