U.S. shares moved higher ahead of the statement from the Federal Reserve’s policy-setting meeting due to be released this afternoon. The S&P 500 (INDEXSP:.INX) added 0.6 percent to 2,105.45 at 11:42 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) gained 0.7 percent to 17,746.92, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.3 percent to 5,104.71. Most followed shares included Twitter, Citrix Systems, Garmin, Akamai Technologies, Gilead Sciences, GlaxoSmithKline, Altria, Anthem, Hilton, and Hess.
In technology stocks, Twitter (NYSE:TWTR) fell 13 percent to $31.77 after after the social-media company reported disappointing user growth. Average monthly active users (MAUs)—a key measure of growth for Twitter—came in at 304 million for the quarter, 12 percent higher than a year earlier but only up slightly from 302 million in the previous quarter. About 80 percent of the company's MAUs came from mobile.
Citrix Systems (NASDAQ:CTXS) jumped 8.5 percent to $75.51 after the software company’s adjusted quarterly profit and revenue topped expectations. Citrix also announced the retirement of its long time chief executive, Mark Templeton.
Garmin (NASDAQ:GRMN) fell 0.8 percent to $42.43. The maker of GPS and wearable fitness devices missed estimates by $0.06 with quarterly profit of $0.72 per share. Garmin said unfavorable currency impact will continue to be a factor for the remainder of the year.
Akamai Technologies (NASDAQ:AKAM) tumbled 7.3 percent to $68.29 after the online content distributor forecast third-quarter revenue and profit below estimates. It said a stronger dollar would hurt its revenue and profit going forward, and its outlook for the current quarter falls below Street estimates.
In health-care shares, Gilead Sciences (NASDAQ:GILD) rose 4.3 percent to $117.90 after the biotech company posted adjusted quarterly profit and revenue that beat forecasts.
GlaxoSmithKline (NYSE:GSK) advanced 3.1 percent to $42.99. The drug maker beat estimates on both the top and bottom lines, overcoming a slump in sales of lung drug Advair and a drop in profit margins.
In consumer shares, Altria Group (NYSE:MO) fell 0.9 percent even as the tobacco producer earned an adjusted $0.74 per share for its latest quarter, $0.03 above estimates. Revenue exceeded forecasts, and Altria also raised its full-year guidance and announced a new $1 billion share repurchase program.
Yelp (NYSE:YELP) dived 28.2 percent to $24.05 after the online business review site reported a surprise second-quarter loss. The company also said its chairman, Max Levchin, would step down from the board to pursue other interests.
Anthem (NYSE:ANTM) inched up 0.1 percent to $154.37 after the health benefit company said its revenue rose 8.4 percent in its second quarter, beating expectations. The company—which recently announced a deal to buy Cigna—also increased its projected full year enrollment growth for medical insurance.
Hilton Worldwide (NYSE:HLT) rose 4.1 percent to $27.58 after the hotel operator reported adjusted quarterly profit of $0.25 per share, $0.02 above estimates, with revenue essentially in line. Hilton also said comparable property revenue per available room—a key hotel industry metric—should rise between 4.5 percent and 6.5 percent for the current quarter.
Hess (NYSE:HES) rose 0.9 percent to $60.23. The oil giant reported an adjusted loss of $0.52 per share, smaller than the $0.73 Wall Street was projecting, and revenue came in well above estimates. Analysts had thought the drop in crude oil prices would push revenue down 56 percent, but the drop was limited to 46 percent.