Investors say 'So what?' to good news

Written By limadu on Kamis, 13 Maret 2014 | 23.53

Dow 12:30

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NEW YORK (CNNMoney)

The Dow, S&P 500, and Nasdaq all fell after gaining in early trading. The Dow was down about 150 points in mid-afternoon trading.

The government reported that retail sales in February were up 0.3%. This was the first increase in three months as consumers bought more autos and clothing. On the jobs front, initial unemployment claims fell by 9,000 to 315,000, a three month low.

But even though the broader market was lower, several high-profile stocks were gaining ground.

Fuel cell maker Plug Power (PLUG) was sharply higher after releasing fourth quarter results. Although the company reported a loss, CEO Andy Marsh said he believes that orders for this year will be nearly four times 2013's total orders.

The stock has surged since disclosing a big order from Walmart last month. But it -- as well as rivals FuelCell Energy (FCEL) and Ballard Power Systems (BLDP) -- are highly speculative companies.

"$PLUG Be careful on this -- major bear flags all around. Retail may be propping this up, but institutions can take it down easily," said StockTwits user PowerKing

But danbetz didn't think the run in Plug Power was done yet. "$PLUG good news is we have great diversity of opinion here, this makes a market and plug stream proves the bull market is far from over," he wrote.

Amazon (AMZN, Fortune 500)rose after saying that it would boost the annual cost of its Amazon Prime membership by $20 a year to $99. Investors seemed relieved that the price hike was not as steep as it said it could be just a month ago. The stock was the top gainer in CNNMoney's Tech 30 index Thursday.

But one trader thought the price increase was a bad move "$AMZN 20 bucks is a big hit! all hikes suck..subscriber growth @20 million..some will bail..incomes are down. not a good time," wrote Thorgood.

Related: CNNMoney's Tech 30

There was a sweet treat for owners of Krispy Kreme Doughnuts (KKD) this morning. The company reported a strong outlook for sales and earnings. Shares fell slightly but remain up more than 30% over the past 12 months. Dunkin' Brands (DNKN) was lower Thursday too, but the stock is up nearly 40% in the past year.

In-flight digital entertainment provider Gogo (GOGO) was down despite reporting a smaller than expected loss, and beating revenue estimates in the fourth quarter. But the stock still had some fans today.

"$GOGO Solid company, great growth potential, still ramping up revs. Those who sold will be sorry this time next month," said ajohnke on StockTwits.

Related: Fear & Greed Index moves back to neutral

Shares of discount retailer Dollar General (DG, Fortune 500) shares were lower after reporting weaker than expected sales in the fourth quarter. Dollar General blamed the bad winter weather.

Both European and Asian stock markets were mixed after worries about a slowdown in China spooked international investors Wednesday.

Economic data out Thursday did little to reassure investors, raising further questions about China's growth.

"For China, the question is whether the [government] authorities are in control of the slowdown, or if it starts controlling them," said Simon Smith, chief economist at FxPro. To top of page

First Published: March 13, 2014: 9:55 AM ET


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