Stock Market Today - 07/30/15

Stocks struggled to battle back from the day's losses as GDP and jobless claims data fell short of consensus projections. The Nasdaq gained 0.3% while the S&P 500 closed flat. Cavium staged a huge upside reversal, closing up 6% after losing 4% early. The chipmaker late Wednesday posted earnings that matched views and sales that topped views. Fellow chipmaker and Apple supplier Qorvo beat quarterly estimates late Wednesday, but its guidance was weak. Qorvo gapped below its 200-day line, closing the session down 14%. Skechers reported earnings that soared 128% and its stock gapped up 6% to hit a new all-time high. The shoemaker's stock is up 170% so far in 2015. And Facebook reported better-than-expected quarterly earnings late Wednesday, but its expenses skyrocketed. Shares fell 2%, paring a 5% loss.