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Unforgettable Friday: Dow Breaks 15,000, S&P Tops 1,600

Dan Berman
Hot Stock Minute

Stocks ended the week with a bang, with both the Dow and S&P 500 hitting all-time highs. The Dow shot past 15,000 for the first time ever (although it couldn't hold that milestone for the close, ending the day close to 30 points short) and the S&P broke new ground, climbing past 1,600. This came after the Labor Department reported there were 165,000 jobs added in April, substantially higher than estimates, which came in at around 140,000. The unemployment rate also dropped to 7.5%, down from 7.6%. That, however, was due in part to the fact that the participation rate remains at its lowest level since 1979.

Despite the broader rise in markets, LinkedIn (LNKD) was down 10% for most of the day. Shares of the social network tanked on the release of quarterly earnings after yesterday's closing bell. The company actually beat estimates, but it gave weaker-than-expected guidance for the quarter now underway. Looking at the numbers, LinkedIn made 45 cents a share excluding items, when expectations were for 30 cents. That was on revenue that matched the consensus. Prior to today's dive, shares of LinkedIn had been up 79% year-to-date.

Shares of (AIG) climbed more than 5%. The company shattered estimates when it reported after yesterday's closing bell. The insurance giant posted earnings of $1.34 a share when estimates were for 87 cents. But in a recurring theme this earnings season, the company missed on revenue. AIG is up 15% year to date and 23% over the past 12-months. The government has sold off all its stake in the company.

Moody's (MCO) shareholders should be in a good mood. The stock was up more than 3% Friday. Moody's released its quarterly report ahead of the opening bell. In a reversal of the pattern we've been seeing all season, the company missed on earnings but beat on revenues. The company says its results were bolstered by an increase in issues of new debt.

SunPower (SPWR) lost a little of its shine today. Shares pulled back after climbing 18% yesterday. The company jumped the gun Thursday and reported earnings midday, though they were expected after the closing bell. Perhaps the company got antsy sitting on the news that it beat estimates, posting 22 cents a share instead of the expected 6 cents. Revenue also beat by more than 20%. SunPower is building several large solar power plants. It also says demand from residential customers is strong. The company got several upgrades after releasing the report. Shares are up 168% over the past year.