U.S. MARKET AVERAGES

Market took early lead on unemployment claims news but failed to advance during the session.

On a day when market lacked news to digest it was the stock specific earnings news that dominated trading. Tech and financial sectors enjoyed several stocks that rose during the day as broader averages reflecting these sectors declined. Intel (INTC: chart), Apple Computer (AAPL: chart), Google (GOOG: chart) and Yahoo (YHOO: chart) are few examples of this anomaly of the day.

Toll Bros (TOL: chart) reported Q1 earnings of 98 cents beating the forecast of 92 cents lifting the stock 3% at close however other stocks in the sector did not enjoy the gains.

Express Script fell close to 5% on earnings disappointment and Amedisys (AMED: chart) fell 23% on earnings of 45 cents missing the estimates of 55 cents and resignation of CFO of the company.

Weekly petroleum reports confirmed the recent trend of rising crude oil inventory. Oil price, however, after trading higher for the most part of the day, fell at close.

GMX Resources (GMXR: chart), an independent gas and energy company stock fell 9% despite reporting higher earnings. Reuters (RTRSY: chart), London, U.K. based news wire service suffered a decline of 12% on future revenue growth guidance of 3% to 4%, lower than market estimate of 4%.

MOVERS AND SHAKERS

GTC Biotherapeutics (GTCB: chart) said it expects European regulators to issue a negative opinion on its Atryn treatment for blood clots because an insufficient number of patients were enrolled in a trial. Atryn is a form of human antithrombin, a protein in human plasma that has anticoagulant and anti-inflammatory properties. The stock tumbled 40%.

U.S. LEC Corp (CLEC: chart), provider of Internet protocol, data and voice communications services, reported a wider Q4 loss of $30.3 million, or 99 cents a share vs. a loss of 33 cents last year. Revenue rose to $100.1 million from $92.1 million in the same period a year earlier. The company announced that it resolved two inter-exchange carrier disputes, resulting in a charge of $23.3 million in the fourth quarter. U.S. Lec expects to receive $9 million in cash as part of these settlements. The stock dropped 15.3%.

Express Scripts (ESRX: chart), pharmacy distribution firm, posted Q4 net income jump of 37% to 75 cents a share vs. 53 cents a year ago on revenue of $4.6 billion. The quarterly results were in line with estimates. The company offered a 2006 earnings forecast that put street estimates at the low end of its range. The stock fell 6%.

Group 1 Automotive (GPI: chart) posted a 44% rise in Q4 net income to $16.2 million, or 66 cents a share, as improving used vehicle retail margins and a decline in used vehicle wholesale losses offset a 1.1% decline to $1.43 billion in revenue. The company’s shares rose 11%.

Eclipsys Corp (ECLP: chart), healthcare information technology software, swung to profit in Q4, reporting earnings of $5 million, or 10 cents a share, up from a year-ago loss of $2.9 million, or 6 cents a share. Revenue rose 20.5% to $105.1 million from $87.2 million in the same period a year earlier. The average estimate of analysts was for a profit of 10 cents a share on revenue of $99.8 million. The stock jumped 12%.

GlobalSantaFe Corp (GSF: chart), offshore-drilling contractor, said a rise in day rates for offshore drilling rigs and the sale of one of its drillships propelled it to a solid fourth-quarter profit, reversing a year-ago loss. The company’s shares gained 2.3%.

ECONOMIC NEWS

Crude oil inventories ticked up in the latest week, according to government statistics released Thursday, though the advance was less strong than in the previous week. Meanwhile, stocks of gasoline recorded another rise as well.

The Department of Energy''s Energy Information Administration revealed that crude oil inventories climbed by 1.1 million barrels for the week ended February 17, rising to 326.7 million barrels from the prior week''s level of 325.6 million barrels. This followed an advance of 4.9 million barrels in the previous week. Oil inventories were 9.9% higher than their levels of the same time last year.

Gasoline inventories posted a week-over-week increase of 100,000 barrels, the government said. This added to a recent string of gains, but was a far smaller build than in the previous week. Gasoline stocks were 0.9% above their levels of last year. Inventories of distillate fuel oil ticked down by 1.3 million barrels in the most recent week.

Thursday morning, the Department of Labor released its report on initial jobless claims in the week ended February 18, showing that jobless claims fell unexpectedly.

The Labor Dept. said that jobless claims fell to 278,000 from previous week''s upwardly revised figure of 298,000. Economists had been expecting jobless claims to edge up to 300,000 compared to the 297,000 originally reported for the previous week.

The four-week moving average also moved back to the downside after ending a six-week streak of decreases in the previous week. The less volatile moving average fell to 281,750 from the previous week''s revised average of 283,250.