Stocks were higher again today, as the market shook off a disappointing jobs report. The Bureau of Labor statistics reported that in January non-farm payrolls came in at 113,000 new jobs, whereas economists were looking for 185,000 new jobs created. Despite that miss in new jobs, the unemployment rate dipped to 6.6%. The Nasdaq (^IXIC) today's market climb, gaining over 1.4%, while the S&P 500 (^GSPC) and Dow Industrials (^DJIA) each popped 1%.
Shares of LinkedIn (LNKD) tumbled finishing the day down 6% after the company issued a disappointing revenue forecast for the first quarter of $455 million to $460 million trailing estimates of $470 million while its fiscal 2014 revenue forecast of $2.02 billion to $2.05 billion missed estimates of $2.16 billion.
News Corporation (NWS) saw shares rise over 8% after it reported adjusted earnings of 31 cents a share beating estimates by 10-cents while revenue fell 4 percent to $2.24 billion, in-line with estimates. Revenue was hurt by a 9 percent revenue drop in its news and information services, a weakening Australian dollar, slower advertising revenue and the sale of the Dow Jones Local Media Group.
Gap (GPS) finished the day up nearly 6% after it said same-store sales for Gap stores rose 1 percent in January beating expectations for a 1.3 percent decline. Gap also saw a 4 percent increase in same-stores sales in its Old Navy stores while its Banana Republic stores saw sales drop 10 percent.
Online travel company Expedia (EXPE) saw shares soar 14% after a better than expected earnings of 92 cents a share which beat estimates by 6-cents while revenue grew 18 percent to $1.15 billion beating estimates of $1.13 billion. The company reported a 21 percent growth in bookings as well as early success in its partnership with Travelocity.
Outerwall (OUTR) also saw shares soar 12% after the operator of Redbox movie kiosks and Coinstar posted earnings of $1.68 a share that came in 43-cents above estimates, and revenue rose 5 percent to $593.7 million just missing on estimates of $597.1 million. Outerwall saw revenue from Redbox rose 2 percent while Coinstar revenue rose 8 percent. The company also announced it will buy back $500 million of its shares.
Activision Blizzard (ATVI) also saw a nice boost after beating top and bottom-line estimates with shares finishing the day jumping 14%. The largest U.S. videogame publisher came out with adjusted earnings of 79 cents a share beating estimates by 6 cents while revenue grew 3 percent to $2.27 billion beating estimates of $2.22 billion. The beat can be attributed to strong sales of its Call of Duty: Ghosts title which was the best-selling game in the U.S. and Europe. But, Activision lowered its guidance for the current quarter to 9 cents a share which is below estimates of 11 cents.