Market Wrap: Stocks Ignore Greece and Rally

Fitbit was the headliner on its IPO day.
Stocks quotes in this article: FIT, JBL, RHT, SWHC, KMX, KBH

U.S. stocks ignored the headlines out of Greece and posted solid gains on Thursday, ahead of Friday's quadruple-witching options expiration and Russell index rebalance. At the closing bell, the broader stock market averages gained 1% to 1.35%. Health care, utility and consumer discretionary names led the way higher on the session.

Fitbit (FIT) was the big winner of the session, gaining 48% in its first day of trading. Specialty chemicals maker Univar (UNVR) also moved 15% higher, following its own initial public offering. On the other hand, Jabil Circuit (JBL) fell more than 7%, after offering a profit warning.

In after-hours action, Smith & Wesson (SWHC) is down 4%, after offering lower earnings guidance. Red Hat (RHT) is also trading 2% lower, after quarterly billings growth fell short of expectations.

Looking ahead to Friday morning, CarMax (KMX) and KB Home (KBH) headline the earnings calendar. Time Warner (TWX) will also host its annual investor meeting.

David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.

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At the time of publication, Peltier had no positions in the securities mentioned.

TAGS: Investing | U.S. Equity | Stocks

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