Stocks continue to chop along in negative territory. Still, participants are finding encouragement among select names.
Amazon.com (+10.84) is making a strong showing despite the
generally pessimistic tone to the session. The Internet retailer
announced after yesterday's close its second quarter revenue climbed
more than 40% from the prior year to $4.1 billion. Excluding
extraordinary gains, it earned $0.26 per share, which is better than
analysts forecast.
Qualcomm (+7.58) is also outperforming many names in the S&P
500. The company announced it has settled a longstanding legal dispute
with Nokia (+1.12), which has overshadowed its downside guidance. The
settlement is believed to remove uncertainty from the chip and wireless
communication industry.