REFILE-US STOCKS-Wall St edges lower; investors look for profit growth
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* Netflix rallies after results, SanDisk lower
* Jobless claims unexpectedly rise in latest week
* Dow, S&P 500 and Nasdaq all fall 0.1 pct
By Ryan Vlastelica
April 16 (Reuters) - U.S. stocks edged lower on Thursday as corporate results showed little organic growth even as they largely beat profit expectations.
While Netflix surged following blockbuster results, curbing the decline on the S&P 500 and Nasdaq, shares of SanDisk slumped following a weak revenue outlook that added to concerns about the pace of top-line improvement.
Of the 51 companies in the S&P 500 that have reported thus far, 76.5 percent exceeded profit expectations, well above the long-term average of 63 percent. Only 47.1 percent have beaten on revenue, however, below the historical average of 61 percent. That suggests companies are boosting their bottom lines with cost cuts rather than through business expansion.
"This is a pricy market. It needs earnings to sustain it, and the earnings need to be sustained by strong demand. Right now, I'm not thrilled with the level of revenue growth we're seeing," said Uri Landesman, president of Platinum Partners in New York. Continuación...