U.S. shares traded lower today after data showed steady job growth in July, increasing the chances Federal Reserve will raise interest rates in September. The S&P 500 (INDEXSP:.INX) skidded 0.6 percent to 2,070.63 at 11:55 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) sank 0.7 percent to 17,298.18, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) fell 0.9 percent to 5,014.08. Most followed shares included Nvidia, JD.com, Groupon, Hershey, Cablevision, Sprouts Farmers, Lions Gate, Transocean, Cheniere Energy, and Capital One.
In technology shares, Nvidia (NASDAQ:NVDA) advanced 9.8 percent to $22.46 after the chipmaker reported a surprise rise in second-quarter revenue. Nvidia forecast revenue to fall to $1.16-$1.20 billion in the current quarter from $1.23 billion a year earlier. Analysts had expected a fall to $1.10 billion. Total revenue rose 4.5 percent to $1.15 billion in the second quarter. Analysts had expected $1.01 billion, according to Capital IQ.
ADRs of JD.com (NASDAQ:JD) fluctuated and were last down 1 percent at $32.50 after China's second largest e-commerce site by sales reported a 61 percent year-on-year rise in second quarter revenues, topping expectations. A jump in the number of shoppers and goods bought through the site helped revenue beat expectations.
In consumer stocks, Groupon (NASDAQ:GRPN) sank 4.3 percent to $4.43 even as the daily-deals company posted a 3.1 percent increase in quarterly revenue. Strong demand for the website's daily deals boosted revenue to $738.4 million in the second quarter ended June 30 from $716.2 million a year earlier. Net income rose $0.16 per share versus a loss of $0.03 per share in the year-ago period.
Hershey (NYSE:HSY) fell 3.6 percent to $88.87 after the chocolate maker posted a second-quarter loss, hurt by low demand in China. The Hershey, Pennsylvania-based company posted a net loss of $0.47 per share for the second quarter, versus a gain of $0.75 from the same period last year. Net sales were flat at $1.58 billion.
Cablevision Systems (NYSE:CVC) dropped 3.7 percent to $25.52 after delivering profit that topped expectations, while revenue matched estimates. The Bethpage, New York-based company lost more video subscribers in the second quarter as cable TV customers continued to "cut the cord", shifting to lower-priced bundled services from telecom carriers and Internet streaming service providers.
Sprouts Farmers Market (NASDAQ:SFM) plunged 9.2 percent to $21.34 after the grocery store chain gave a soft profit forecast and promoted its chief financial officer to chief executive. The firm reported earnings and revenue roughly in-line with estimates.
Lions Gate (NYSE:LGF) rose 4.8 percent to $37.04. The entertainment company soundly beat expectations with a profit of 26 per share versus a $0.07 forecast, but missed on revenue, posting $409 million versus estimates of $428 million.
In energy shares, Transocean (NYSE:RIG), the world’s largest offshore rig owner, slipped 0.7 percent to $13.74 after a 12 percent jump, the most since October 2008, following the offshore driller’s better-than-estimated earnings. Profit of $1.11 per share, excluding certain items, was more than double the 51-cent average of 32 analysts’ estimates compiled by Capital IQ.
Cheniere Energy (NYSEMKT:LNG) gained 5.8 percent to $68.55 after activist investor Carl Icahn reported an 8.2 percent stake in the firm and said he might seek a seat on the liquefied natural gas company's board.
In other stocks, Capital One (NYSE:COF) wavered between gains and losses. The diversified financial services holding company is in talks for a $10-billion-plus deal to acquire General Electric's health-care finance arm, which offers mortgages and business loans to health care providers.