The Standard & Poor’s 500 Index extended a record as Facebook Inc. rallied on higher revenue, and growth in global manufacturing offset a drop in home sales. Caterpillar Inc. sank on a disappointing forecast, leaving the Dow Jones industrial average little changed.
Facebook jumped 5.2 percent to a record after reporting second-quarter sales surged 61 percent. Under Armour Inc. surged 15 percent after increasing its 2014 profit target.
Caterpillar sank 3.1 percent after forecasting full-year profit that fell short of estimates. D.R. Horton Inc. plunged 12 percent to lead homebuilders lower. Amazon.com Inc. sank 6.2 percent in late trading after reporting a loss wider than analysts’ projected.
The S&P 500 added 0.1 percent to a record 1,987.98 at 4 p.m. in New York. The Dow average slipped 2.83 points, or less than 0.1 percent, to 17,083.80. About 5.7 billion shares changed hands on U.S. exchanges, in line with the three-month average.
Global equities advanced Thursday as data showed euro-area manufacturing and services grew in July, while Chinese factory activity rose to an 18-month high. Economic reports in the U.S. were mixed, with fewer new U.S. homes sold in June than forecast, while jobless claims unexpectedly fell.
Facebook climbed 5.2 percent, the most since April, to $74.98. The operator of the world’s biggest social network said mobile advertisements helped profit more than double as sales surged.
Tractor Supply Co. jumped 6.6 percent after releasing its financial results to help producers of consumer-discretionary products rally.
Under Armour surged 15 percent for the largest increase in the group. The maker of compression T-shirts and other athletic apparel raised its annual growth forecast. Nike Inc. jumped 1.6 percent for the biggest gain in the Dow.
Zillow Inc. jumped 15 percent, and Trulia Inc. rallied 32 percent after a report said Zillow is seeking to acquire Trulia, according to people with knowledge of the matter, in a move to combine the two most-visited U.S. real estate websites.
Amazon.com sank 6.2 percent to $336.35. The world’s largest online retailer reported its biggest quarterly loss since 2012 as Chief Executive Officer Jeff Bezos builds more distribution warehouses, adds grocery deliveries and develops new smartphones and tablets. The shares closed 0.1 percent higher.
Caterpillar tumbled 3.1 percent, the most since May and the biggest decline in the Dow. The largest maker of mining machinery forecast full-year sales and earnings that fell short of analysts’ estimates as it said there’s no sign of an upturn in the industry in 2014.
Housing shares plunged, with an S&P index of home builders sinking 4.9 percent for its biggest drop in a year. Meritage Homes Corp. sank 3.9 percent, and Toll Brothers Inc. slid 4.1 percent as all 11 members of the index retreated.
D.R. Horton dropped 12 percent for the biggest loss and its worst day since November 2009. The largest U.S. homebuilder by revenue said its fiscal-third quarter earnings declined as the company’s sales margin shrank.