Major indices close mixed and give up gains into the close

Wednesday, 03/02/2021 | 21:05 GMT-0

S&P and Dow leads the way higher. NASDAQ closes lower on late day sell off

The major indices are closing mixed, but gave up most of the day gains into the close.

A look at the closing levels shows:

S&P index rose 3.77 points or 0.10% at 3830.08. The high price reached 3847.51. The low price extended to 3816.68
NASDAQ index fell -2.23 points or -0.02% to 3610.54. The high price reached 13723.83. The low price extended to 13585.34
Dow industrial average rose and 35.46 points or 0.12% to 30723.01. The high price reached 30793.41. The low price extended to 30521.31

Some earnings releases after the close include Qualcomm and PayPal.

Qualcomm:

adjusted earnings-per-share of $2.17 vs. $2.10 expected. Revenues came in a $8.23 billion vs. 8.27 billion estimate
They see 2nd quarter revenues of $7.2 billion – $8 billion which is higher than the 7.1 billion estimate

Shares of Qualcomm are down close to 7% after the close after the revenue miss ($-11.30 to $151.53)..

EBay announce cents

fourth-quarter EPS at $0.86 vs. estimate of $0.82
revenues $2.87 billion vs. $2.7 billion estimate (28% revenue growth)
announced boost to share buyback program by an additional $4 billion
sees 1st quarter adjusting EPS at $1.03 to $1.08. That is greater than the $0.85 expected
sees first-quarter net revenues $2.94 billion vs. $2.99 billion. Estimate $2.54B.
Increased dividends by 13%
EBay shares are up around 8.7% after earnings

PayPal earnings will be released at around 4:20 PM ET (estimate $1 per share/revenues at $6.1 billion