U.S. shares switched between small gains and losses, held in check by disappointing earnings from energy giants Exxon Mobil and Chevron. The S&P 500 (INDEXSP:.INX) rose 0.2 percent to 2,112.35 at 11:57 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) was flat at 17,753.30, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) gained 0.4 percent to 5,147.56. Most followed shares included LinkedIn, EA, FireEye, Exxon Mobil, Chevron, Royal Caribbean Cruises, Coca-Cola Enterprises, Expedia, Amgen, and Moneygram.
In technology shares, LinkedIn (NYSE:LNKD) fell 9 percent to $206.63 even as the operator of the biggest social networking site for professionals lifted its full-year revenue forecast while reporting stronger-than-expected second-quarter results. Investor were concerned that growth was slowing in LinkedIn’s main business after the company attributed the bump in its annual revenue forecast to its acquisition of the education website Lynda.com. As part of the forecast, the company more than doubled expectations for revenue from the Lynda.com acquisition to $90 million for the year. Net loss expanded to $67.7 million, or $0.53 loss per share, in the April-to-June quarter, from $1 million, or $0.01 loss per share. Excluding items, the company earned $0.55 per share, above the $0.30 per share estimate of analysts surveyed by Capital IQ.
Electronic Arts (NASDAQ:EA) declined 1.3 percent to $71.11. The maker of the Battlefield Hardline video game reported first-quarter sales and profit that beat analysts’ estimates, but the company’s forecast fell short. Net income rose to $442 million, or $1.32 per share, in the first quarter ended June 30, from $335 million, or $1.04 a share, a year earlier. Excluding items, it earned $0.15 per share, handily beating analysts' estimate of 3 cents per share, according to Capital IQ. Adjusted revenue fell 10.6 percent to $693 million, but beat analysts estimates of $652 million.
FireEye (NASDAQ:FEYE) fell 5.8 percent to $44.99 after the cybersecurity company reported its slowest quarterly revenue growth since going public in 2013, and said its chief financial officer will step down.
In energy shares, Exxon Mobil (NYSE:XOM) fell 3.8 percent to $79.88 after the world’s largest publicly traded oil company delivered quarterly earnings that fell short of analysts' expectations today, hurt by lower oil prices.
Chevron (NYSE:CVX) slumped 3.8 percent to $89.45, after the oil giant reported a sharp decline in second-quarter profit and sales, hurt by lower crude prices and one-time charges.
In consumer shares, Royal Caribbean Cruises (NYSE:RCL) jumped 8.2 percent, after the company reported stronger-than-expected second-quarter profit and raised its outlook for the full year.
Coca-Cola Enterprises (NYSE:CCE) jumped nearly 14.7 percent to $52.17 following news it’s in merger talks with other Coke bottlers.
Expedia (NASDAQ:EXPE) rose 10.3 percent to $118.71 after posting better-than-expected profit in its second quarter, as brands like its namesake and Hotels.com continued to drive bookings growth.
In other stocks, Amgen (NASDAQ:AMGN) rose 3.5 percent to $177.99. The biotechnology company raised its 2015 guidance after reporting that its second-quarter earnings rose 6.9 percent on better-than-expected sales growth and lower operating expenses.
YRC Worldwide (NASDAQ:YRCW) jumped 29.4 percent to $19.80 after the holding company swung to a profit in the June quarter easily beating analysts’ projections on a per-share basis even as revenue missed estimates.
Newell Rubbermaid (NYSE:NWL) gained 1.2 percent to $43.32. The marketer of consumer and commercial products bumped up its guidance for the year after reporting a better-than-expected 4 percent increase in revenue in its second quarter.
Moneygram International (NASDAQ:MGI) surged 27.7 percent to $10.06. The money transfer and payment services company said finance chief W. Alexander Holmes will assume its top executive role starting Jan. 1, while current chief executive Pamela H. Patsley will move into the executive chairman role. The company also reported better-than-expected results for its second quarter.