U.S. shares rose slightly today, adding to a rally that propelled the S&P 500 to its biggest three-day advance of the year. The S&P 500 (INDEXSP:.INX) gained 0.4 percent to 2,108.17 at 11:56 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) rose 0.3 percent to 18,035.70, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) added 0.7 percent to 5,107.38. Most followed shares included JPMorgan, Wells Fargo, J&J, Amazon, Books-A-Million, Starbucks, Micron Technology, GoPro, Google, Nokia, Spirit Airlines, and Fastenal.
In financials, JPMorgan Chase (NYSE:JPM) gained 1 percent to $68.76 after the biggest U.S. bank by assets reported a higher-than-expected second-quarter profit as the firm trimmed costs to offset falling trading revenue. Net income rose to $6.29 billion, or $1.54 per share, for the June quarter, from $5.98 billion, or $1.46 per share, a year earlier. Analysts polled by Capital IQ had expected earnings of $1.44 per share. Revenue fell 3.2 percent to $24.53 billion. Analysts had expected $24.49 billion. Trading revenue decreased 8.9 percent to $4.51 billion from $4.95 billion in the second quarter of 2014.
Wells Fargo (NYSE:WFC) gained 1 percent to $57.30, reversing an earlier slump. The San Francisco-based bank reported a profit of $5.72 billion, down slightly from $5.73 billion in the same period of 2014. On a per-share basis, earnings increased to $1.03—matching the estimate from analysts polled by Capital IQ—from $1.01 as the bank’s outstanding share count declined. Revenue rose 1.2 percent to $21.32 billion, shy of the $21.7 billion analysts expected.
In financials, Digital Realty Trust (NYSE:DLR) inched up 0.4 percent to $68.68 after the data-center and colocation company said it has made a $1.9 billion deal to buy Telx from Berkshire Partners and Abry Partners.
In consumer shares, Johnson & Johnson (NYSE:JNJ) fell 0.6 percent to $99.66 as its earnings modestly exceeded analysts forecasts and the company raised its full-year profit view.
Amazon (NASDAQ:AMZN) rose 2.2 percent after UBS upgraded the company's stock to "buy" from "neutral".
Books-A-Million (NASDAQ:BAMM) leaped 21 percent to $3.15 after the book retailer reached a buyout deal worth about $21 million with the family of Chairman Clyde B. Anderson, at a higher price than the family’s January proposal.
Starbucks (NASDAQ:SBUX) added 0.2 percent to $55.79 after the coffee chain struck a deal to push into sub-Saharan Africa next year.
In technology stocks, Micron Technology (NASDAQ:MU) jumped 12.2 percent to $19.75 after sources told Reuters that China's state-backed Tsinghua Unigroup is preparing a $23 billion bid for the U.S. memory chip maker.
GoPro (NASDAQ:GPRO) rose 6.7 percent to $55.60 after Barclays raised its rating on the action camera maker's stock to "overweight" from "equal weight".
Google (NASDAQ:GOOGL) gained 2.1 percent to $583.54. The world’s largest Internet search engine Google has instituted stricter controls on costs because of slowing revenue growth and smaller profit margins, according to The Wall Street Journal.
ADRs of Nokia (NYSE:NOK) fluctuated and was last down 0.2 percent to $6.70. Nokia confirmed prior reports that it is considering a return to the handset market, and is seeking a partner that would assume manufacturing, sales, and marketing functions. Separately, The New York Times reports that ride service Uber has dropped out of the bidding for Nokia's mapping service.
In industrials, Spirit Airlines (NASDAQ:SAVE) sank 7.8 percent to $58.61. The airline said poor June weather will hurt its second quarter results, and added that pricing pressure could impact its earnings during the rest of 2015.
Fastenal (NASDAQ:FAST) dropped 2.6 percent to $41.69 after the seller of industrial and construction supplies said second-quarter profit rose 7.6 percent, as demand from customers in oil-related industries stabilized. But revenue fell short of expectations.
In other stocks, Valero Energy (NYSE:VLO) inched up 0.3 percent to $67.04. Valero increased its stock buyback authorization by $2.5 billion, adding to the $400 million still remaining under a prior program.