Schlumberger fell after the world's largest oilfield services company said that activity in North America is weaker than anticipated. In a statement, the company said the impact of slowdown would be between 5 cents a share and 7 cents a share. Shares of Schlumberger trded in negative territory year-to-date.
GE raised its quarterly dividend by 12 percent to 19 cents a share and increased its existing share buyback program by $10 billion.
Southwest Airlines hit a fresh 52-week high after airline company announced plans for additional fees to increase revenue and also said that Superstorm Sandy cost about $15 to $20 million in operating profit.
U.S. Steel traded higher on heavier-than-average volume.
JC Penney rallied, posting its best weekly gain since January and is the best performer on the S&P 500 this week.
And Hershey hit a new record high, up nearly 20 percent year-to-date. Other all-time highs today include Salesforce.com, PPG Industries and Heinz.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Lori Spechler
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