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S&P 500 Leaders & Laggards: MBI JDSU

By Associated Press May 1, 2008 Comments (0)

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The Standard & Poor's 500 index ended higher Thursday, pulled up by gains from MBIA Inc., Symantec Inc. and Office Depot Inc.

The S&P 500 rose 23.75 points, or 1.7 percent, to 1,409.34, as investors were encouraged by a stronger dollar and lower oil prices.

Bond insurer MBIA, rose $1.34, or 12.9 percent, to $11.74.

Symantec Inc. rose $2.12, or 12.3 percent, to $19.34. The network security provider posted a better-than-expected fiscal fourth-quarter profit.

Office Depot Inc. rose $1.40, or 11 percent, to $14.08. On Wednesday, rival OfficeMax Inc. posted a lower first-quarter profit.

Among the decliners, JDS Uniphase Corp., a communications equipment maker, said it expected fiscal fourth-quarter sales to miss Wall Street expectations. Shares declined $2.31, or 16.1 percent, to $12.

International Flavors & Fragrances Inc. posted a lower first-quarter profit, sending shares down $3.47, or 7.6 percent, to $42.14.

Shares of Murphy Oil Inc. lost $6.36, or 7 percent, at $83.98, although the oil and natural gas company's first-quarter profit rose, driven by higher energy prices.

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