The Nasdaq 100 index jumped in midday trading Thursday as Wall Street digested better-than-expected same-store sales reports from the nation's retailers and seemed to overlook record-high crude oil prices after they nearly breached $124 per barrel earlier in the session.
The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, gained 21.60 points to 1,973.02 in midday trading. The broader Nasdaq composite added 16.11 points to 2,454.60.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.
Shares of Discovery Holding Co., which owns the Animal Planet channel and others, rose $1.42, or 6.1 percent, to $24.83.
Shares of NII Holdings Inc. jumped $2.47, or 5.4 percent, to $47.94.
Shares of Virgin Media Inc. increased 43 cents, or 3.2 percent, to $14.04.
On the dropping side, shares of Hansen Natural Corp. dropped $5.20, or 14.6 percent, to $30.40 after its first-quarter profit missed Wall Street's expectations.
Shares of Cognizant Technology Solutions Corp. shed 90 cents, or 3 percent, to $29.31. The information-technology company guided its second-quarter profit below Wall Street's expectations on Wednesday.
Shares of Nvidia Corp. lost 65 cents, or 3 percent, to $21.36.
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