U.S. stocks rebounded from a lower open Thursday and finished 0.45% to 0.85% higher across the board. Technology and health care names led the way higher on the session, while utility stocks lagged.
The yield on the benchmark 10-year U.S. Treasury note fell 0.5%. The CBOE S&P 500 Volatility index also fell 7%. On the other hand, crude oil prices rebounded more than 3% on Thursday.
Con-way (CNW) was the big winner of the session, gaining more than 33% after receiving a $3 billion cash takeover offer from XPO Logistics (XPO), which fell 11% on the session. Lululemon (LULU) is down 16% on a lower earnings forecast.
In after-hours action, Zumiez (ZUMZ) is down more than 17% after posting quarterly results. Finisar (FNSR) is also down 7% after reporting the resignation of Chief Executive Jerry Rawls.
Looking ahead to Friday morning, Kroger (KR) headlines a quiet earnings calendar. On the economic front, we'll get a look at producer prices before the opening bell. NetApp (NTAP) 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.
