Earnings blowouts from Google and strong guidance from two key names in the industrial sector were among the catalysts for Friday's most-active stocks.
Google reported on Thursday a 69% rise in quarterly earnings, handily beating consensus expectations. The online search giant said market share gains in Web search fueled advertising sales growth.
Goldman Sachs analyst Anthony Noto said Google's results should "inspire increased investor confidence in 2007 results and beyond" and he expects the company to see "superior growth and returns" over the next two years.
Shares of Caterpillar jumped more than 4% after the the construction equipment maker reported solid first-quarter earnings and raised full-year guidance. Caterpillar attributed the rosy outlook to "exceptional growth" outside North America, which offset weakness related to the U.S. housing market downturn.
Honeywell International shares hit a six-year high on news of 20% growth in quarterly earnings, boosted by strong growth in Europe and the Middle East. The company also lifted the 2007 profit outlook to a range of $3.00 to $3.10 a share, compared with analysts' estimate of $2.94.
Intuitive Surgical, which makes the da Vinci robotic surgical system, said first-quarter earnings rose 65% and raised 2007 sales guidance.
Oil services firm Schlumberger saw shares move higher on 10 times normal trading volume after posting a 63% jump in first-quarter earnings.
On the losing side, Advanced Micro Devicesfell 2% after announcing a wider-than-expected loss for the first quarter, citing lower chip shipments and falling prices.
Capital One Financial cut its 2007 earnings forecast and reported a 24% drop in earnings late Thursday due to weakness in its mortgage banking business. Shares fell more than 5%.