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tdp2664 InvestorPlace Positive earnings reports fended off a tumultuous market Friday, helping the Standard & Poor’s 500 Index eke out a gain of six points, or about a half-percent, to reach 1,165 in early trading. Advancing stocks outnumbered those declining by better than a 3-to-2 margin. The S&P 500 is up more than 1.5% for the week but down more than 9.3% for the year. Retailers continued to rise on strong earnings, with Tiffany’s (NYSE: TIF ) up more than 5%, or more than $3 a share, to around $66.30. Profits for the second quarter increased by 33% thanks to soaring sales for the upscale retailer. Tiffany’s is up almost 7% for the week and more than 50% for the year. Electronic Arts ( NASDAQ : ERTS ) was higher by more than 3% to over $21, a gain of more than 60 cents per share. The tech sector is up this morning thanks to deal activity, which is running at a record clip. F5 Networks ( NASDAQ : FFIV ), another tech company, was enjoying gains of about $2.20 per share, or more than 3%, to around $73.90. F5 Networks also was upgraded by Stifel Nicolaus and McAdams Wright Ragen. Off about 3.5% was Sealed Air Corp. (NYSE: SEE ) to under $16.50, a loss of about 60 cents per share. Sealed Air is down about 3% for the week, 20% for the month and 30% for the quarter. Doubts about economic growth are dragging down the share prices of the packaging and container corporation. Starwood Hotels & Resorts (NYSE: HOT ) was lower by more than 30 cents, or about 7%, to drop beneath $40.40 per share. Morgan Stanley downgraded Starwood this morning. Up about 1% for the week, Starwood is down more than 33% year-to-date. Tenet Healthcare (NYSE: THC ) was down to about $5 per share, losing a couple cents for a 0.4% drop. Tenet is up more than 7% for the week and 27% for the year. Jonathan Yates does not own any of the stocks mentioned in this article.
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