U.S. stocks ended with gains, supported by strong quarterly numbers from major banks and on data that showed jobless claims dropped to lowest in nearly four years.
The Dow industrial average gained 0.36 percent to finish at 12,624.00. The Nasdaq Stock Market advanced 0.67 percent to end at 2,788.33. Standard and Poor's 500 rose 0.49 percent to close at 1,314.50 on Thursday.
On the economic front, the number of Americans who continued to receive jobless benefits dropped less than anticipated to 352,000 last week from a revised 402,000 in the prior period, while economists projected a decline to 385,000. The four-week moving average for claims fell 3,500 to 379,000 last week, a data from the Labor Department showed.
Earnings Watch: (GOOG, MS, IBM, MSFT, INTC, JCI)
Google Inc. (NASDAQ: GOOG) reported quarterly earnings that missed analysts' forecasts, and its shares tumbled 9.5 percent in extended trading. Non-GAAP earnings per share were $9.50, while Wall Street projected $10.49 a share. Net revenue was $8.1 billion, while analysts expected revenue of $8.4 billion.
Microsoft Corp. (NASDAQ: MSFT) rose 2.2 percent in extended trading after the company posted better-than-expected quarterly earnings. Earnings were $6.6 million or $0.78 per share for the second quarter, compared with $6.6 million or $0.77 per share in the comparable period of last year. Revenue rose 5 percent to $20.9 billion. Analysts, on average, polled by Thomson Reuters expected the company to earn $0.76 per share on revenue of $20.9 billion.
International Business Machines Corp. (NYSE: IBM) advanced 3.4 percent to $186.69 in extended trading after the company guided 2012 earnings above consensus. IBM said that it expects full-year non-GAAP earnings per share of at least $14.85, while analysts expect $14.82 a share. Fourth quarter non-GAAP earnings per share increased 11 percent to $4.71 per share, while analysts expected $4.62 per share. Revenue was $29.5 billion, missing consensus estimate of $29.7 billion.
Intel Corp. (NASDAQ: INTC) reported better-than-expected quarterly earnings, helped by jump in revenue. Following the announcement, the stock gained 1.9 percent to $26.11 in extended trading. Non-GAAP earnings were $3.5 billion or $0.64 per share for the fourth quarter, compared with $3.2 billion or $0.56 per share in the year-ago quarter. Revenue rose 22 percent to $13.9 billion.