NYSE Indexes Bounce Back; Turnover Rises

NYSE stocks lodged strong gains Thursday, but pulled back from an even better performance in the final 30 minutes.

The Dow and S&P 500 jumped 1.7% each. Both had sunk 1.6% in the morning. But all three had risen at least 2% until that last-minute sell-off. Volume rose from Wednesday's level.

MasterCard MA gapped up and swelled 20.50 to 209.51 on triple its average turnover. The stock regained its 50-day moving average on a strong earnings report. But it retreated from an intraday high of 218.45.

Excluding a one-time gain, the credit card firm's Q4 income surged 187% to 89 cents a share, easily topping estimates of 72 cents.

Burger King Holdings BKC sizzled ahead 2 points, or 8%, to 26.16 on more than five times its average trade. The stock regained its 50- and 200-day lines.

The company reported a 29% jump in fiscal Q2 profit and a 10% rise in sales. Both beat views.

Unlike rival McDonald's MCD, which leapt 2.57 to 53.58, Burger King was upbeat on its sales outlook.

Nokia NOK also regained its 50-day line. Shares tacked on 1.77, or 5%, to 37.14 on slightly heavier trade.

Caris & Co. started coverage of the world's top cell phone maker with an above-average rating.

Nike NKE stepped up 1.93 to 61.33 on nearly double its average volume. It finished shy of its 50-day line.

U.K.-based soccer apparel firm Umbro accepted Nike's $565 million takeover bid. The deal is expected to be completed in early March.

Harsco HSC recouped its 200-day line when it rallied 1.72 to 56.77 on more than double its normal volume.

The provider of infrastructure-related services reported Q4 earnings and sales above views. It raised its full-year 2008 earnings outlook.