U.S. shares fluctuated between gains and losses as optimism about a possible solution to Greece’s debt problems gave way to caution. The S&P 500 (INDEXSP:.INX) was flat at 21,123.12 at 11:50 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) rose 0.1 percent to 18,133.83, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) dropped 0.1 percent to 5,151.50. Most followed shares included Blackberry, AT&T, Darden Restaurants, Molson Coors, Sonic, Fitbit, Momo, IHS, Green Dot, and Vical.
In telecom shares, Blackberry (NASDAQ:BBRY) fell 3 percent to $8.93 after the embattled Canadian smartphone maker reported disappointing results in its fiscal first quarter. Blackberry posted a first-quarter adjusted loss of $0.05 per share in the three months ended May 30. That was wider than the $0.03 loss per share estimated by 23 analysts on average. Revenue fell to $658 million from $966 million a year ago, lagging behind the Wall Street consensus of $679 million.
AT&T (NYSE:T) advanced 3.1 percent to $36.10. The stock was upgraded to "overweight" from "neutral" at Barclays, which cited the potential positive effects of AT&T's purchase of DirecTV.
In consumer stocks, Darden Restaurants (NYSE:DRI) gained 2.7 percent to $71.22 after the operator of restaurant brands including Olive Garden, LongHorn Steakhouse and Bahama Breeze announced plans to separate a portion of its real estate assets to a new real estate investment trust (REIT). Darden also reported adjusted quarterly profit of $1.08 per share, 15 cents above estimates, with revenue also beating.
Molson Coors (NYSE:TAP) fell 1.2 percent as the beer brewer was downgraded to "neutral" from "buy" at Nomura, which said the U.S. beer market is weakening and that the potential for a buyout of the company's MillerCoors unit is dropping.
Sonic (NASDAQ:SONC) slumped 11.4 percent to $30.32. The restaurant chain reported adjusted quarterly profit of $0.36 per share, matching estimates. Revenue slightly beat forecasts, but Sonic's full-year outlook is below Street forecasts.
In technology shares, Fitbit (NYSE:FIT) rose 3.4 percent to $38.28, extending gains into its fourth day of trading after jumping more than 50 percent on its debut last Thursday.
ADRs of Momo (NASDAQ:MOMO) jumped 11 percent to $17.40 after reporting it has received a buyout offer from its chief executive, the latest Chinese company to receive such a proposal.
In other stocks, IHS (NYSE:IHS) rose 1.3 percent to $130.40 after saying fiscal second-quarter earnings rose to $1.50 a share, beating forecasts of $1.45 a share. The information and analytics company said its board has approved a new $500 million share-repurchase program.
Green Dot (NYSE:GDOT) surged 36 percent on news that its contract to manage and issue Wal-Mart Stores’ MoneyCard debit cards was extended for another five years. Separately, Green Dot announced a $150 stock-repurchase program.
Vical (NASDAQ:VICL) fell 47 percent to $0.752 after saying its genital herpes vaccine didn’t meet the primary endpoint of reducing viral shedding in a Phase 1/Phase 2 clinical trial.