U.S. shares hit a fresh intraday record shortly after the opening bell today, but optimism faded quickly and all three indexes were trading flat. The S&P 500 (INDEXSP:.INX) inched up 0.1 percent to 2,128.61 at 11:54 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) edged up 0.1 percent to 18,108.79. Most followed shares included Morgan Stanley, Zillow, SunEdison, Microsoft, Horizon Pharma, Exelixis, Halliburton, Hasbro, Cal-Maine Foods, Newmont Mining, and Lockheed Martin.
In financials, Morgan Stanley (NYSE:MS) was little changed at $40.24. The owner of the world's largest brokerage bank, reported stronger-than-expected quarterly earnings as its bond and equities trading business outperformed those of its competitors. Net income from continuing operations applicable to the company fell to $1.67 billion, or $0.85 per share, in the April-to-June quarter, from $1.82 billion, or $0.92 per share, a year earlier. On an adjusted basis, the bank earned $0.79 per share-exceeding the average analyst estimate by 5 cents, according to Capital IQ. Adjusted net revenue rose 12.2 percent to $9.56 billion, with wealth management net revenue increasing 4.7 percent to $3.88 billion.
Zillow Group (NASDAQ:Z) declined 4.1 percent to $79.86 after Barclays Plc cut its rating on the real estate listings website to underweight, similar to sell.
In technology stocks, SunEdison (NYSE:SUNE) rose 3.8 percent to $32.76 after the renewable energy company said today that it and its publicly traded power plant unit, TerraForm Power, would acquire Vivint Solar (NYSE:VSLR) for about $2.2 billion in cash and securities. SunEdison has offered Vivint shareholders $9.89 in cash, $3.31 in stock and $3.30 in notes for every share held.
Microsoft (NASDAQ:MSFT) added 0.3 percent to $46.77. Microsoft will buy Israeli cybersecurity company Adallom for $320 million, according to Israeli financial newspaper Calcalist.
In health-care shares, Horizon Pharma (NASDAQ:HZNP) rose 5.1 percent to $39.98 after saying its second-quarter sales were much stronger than analysts expected and the drug maker raised its 2015 revenue and Ebitda guidance. The results come as the company is trying to reach a merger deal with DepoMed (NASDAQ:DEPO).
Exelixis (NASDAQ:EXEL) jumped 41.4 percent to $5.53. The healthcare company’s kidney cancer treatment showed an increase in survival in a late-stage study, meeting its primary endpoint.
In energy shares, Halliburton (NYSE:HAL) added 2.5 percent to $40.98. The oil-services giant said its per-share earnings and revenue beat expectations for the second quarter. But overall net income plunged 93 percent as its revenue tumbled on soft demand, particularly in its North America operations.
In consumer shares, Hasbro (NASDAQ:HAS) advanced 6.3 percent to $83.15 after the toy giant delivered quarterly profit and revenue that topped expectations.
Cal-Maine Foods (NASDAQ:CALM) sank 8.4 percent to $49.38. The producer of shell eggs reported earnings jumped over 46 percent in the quarter ended in May. But results fell short of analysts’ expectations.
In other stocks, Newmont Mining (NYSE:NEM) slid 11 percent to $18.44 after gold led a slump in commodities prices.
Lockheed Martin (NYSE:LMT) rose 1.2 percent to $204.49. The global security and aerospace company agreed to acquire the Sikorsky helicopter unit from United Technologies for about $9 billion. Separately, Lockheed said it will conduct a strategic review of its government information-technology and technical services businesses. Lockheed also reported second-quarter earnings rose 4.5 percent, topping expectations and leading the company to boost its full-year guidance.