U.S. shares wavered as energy shares tumbled while investors weighed corporate earnings and the latest batch of economic data. The S&P 500 (INDEXSP:.INX) slipped 0.1 percent to 2,112 at 11:48 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) was little changed at 18,220, and the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) gained 0.3 percent to 4,982. Most followed shares included Salesforce.com, Workday, Sears Holdings, Kohl’s, L Brands, SeaWorld Entertainment, DineEquity, Transocean, and Hercules Offshore.
In technology shares, Salesforce.com (NYSE:CRM) jumped 11.3 percent to $69.94 after the world's biggest maker of online sales software raised its full-year revenue forecast, capitalizing on strong demand for its web-based sales and marketing software and services.
Workday (NYSE:WDAY), a provider of enterprise cloud applications for global human resources and finance, sank 9.7 percent to $84.74. The Pleasanton, California-based company lost $0.06 per share for its latest quarter, matching estimates, while revenue exceeded forecasts. Its current quarter revenue guidance is also stronger than analysts had anticipated, as it sees strong growth for its subscription-based human resources software.
In consumer-discretionary shares, Sears Holdings (NASDAQ:SHLD), the biggest U.S. department-store company, stumbled 75 percent to $35.04. Sears reported an adjusted quarterly loss of $1.37 per share, smaller than the $1.89 consensus estimates. Revenue was below consensus, and same-store sales at both Sears and Kmart fell. Sears also said it expects to complete its previously announced spinoff of 200 to 300 stores into a REIT by May or June, which should bring in more than $2 billion.
Kohl's (NYSE:KSS), the third-largest U.S. retailer, gained 2.4 percent to $72.60. The Menomonee Falls, Wisconsin-based company reported quarterly profit of $1.83 per share, $0.03 above estimates, with revenue very slightly above forecasts. Kohl's also increased its dividend by 15 percent to $0.45 per share from the prior $0.39.
L Brands (NYSE:LB) was little changed as the Victoria's Secret parent reported quarterly profit of $1.89 per share, $0.09 above estimates, while revenue was also above forecasts. However, its current quarter and full-year outlook is below analyst forecasts.
ADRs of Anheuser-Busch InBev (NYSE:BUD) rose 2.4 percent to $127.37 after the beer brewing giant raised its annual dividend by 46 percent and announced a $1 billion share buyback, as well as anticipated improved beer sales.
SeaWorld Entertainment (NYSE:SEAS), which has tried to turn the tide against the controversy over its handling of killer whales, plunged 5.1 percent to $19.32 after saying its attendance and revenue continued to decline in the fourth quarter.
DineEquity (NYSE:DIN) fell 2.1 percent to $109.47 even as the restaurant operator posted a better-than-expected 4 percent increase in revenue in its fourth quarter.
In energy stocks, Transocean (NYSE:RIG), owner of the biggest fleet of deep-water drilling rigs, slipped 0.3 percent to $15.99. The Swiss company logged a $992 million charge in the fourth quarter to correct the value of its contract drilling business, amid falling demand as sharply lower oil prices have led energy companies to slash spending and shelve projects. But its fourth-quarter adjusted profit beat analysts’ expectations.
Hercules Offshore (NASDAQ:HERO), a provider of shallow-water drilling and marine services to the oil and natural gas exploration and production industry, slumped 15 percent to $0.716. The Houston, Texas company said Saudi Aramco–the world’s largest oil producer–has terminated its drilling contract for its Hercules 261 rig, the latest casualty of the collapse in oil prices.