U.S. MARKET AVERAGES

Stocks moved up in an uneven session Thursday morning as investors lost enthusiasm despite strong earnings from Hewlett-Packard Co. and a surprising jump in home construction. A rise in oil prices also weighed on market.

Hewlett-Packard's rise encouraged buying in the tech sector, but failed to help the Dow Jones industrial average or other large-cap stocks.

Investors worries over economic growth eased down on upbeat construction data, following a bullish economic outlook from new Fed Reserve Chairman Ben Bernanke.

A barrel of light crude was quoted at $58.05, up 40 cents, on the Nymex.

Hewlett-Packard (HPQ: chart) was the most notable stock reaching a new 52-week high with earnings news sparking an 8% rally in its shares. Wild Oats (OATS: chart) also jumped to a fresh peak on earnings news. Synopsys (SNPS: chart) was another stock climbing to a fresh peak on upbeat earnings report.

Clark Consulting (CLK: chart) dropped sharply on worse-than-expected earnings, taking the stock to a new 52-week low. American Pharmaceutical Partners (APPX: chart) added to its recent losses to expand its low.

In midday trading, the Dow rose 15.45, or 0.14%. The Standard & Poor's 500 index gained 3.99, or 0.31%, and the tech-focused Nasdaq composite index added 11.23, or 0.49%.

Bonds were little changed, with the yield on the 10-year Treasury note steady at 4.60% from late Wednesday.

MOVERS AND SHAKERS

Wild Oats Markets (OATS: chart) posted Q4 net income of $3.3 million, or 11 cents a share, compared with a loss of $34.7 million, or $1.22 a share in the year-ago period. Net sales were $282.7 million, compared with $281.9 million in the prior period. Same-store sales rose 4.2%. Analysts expected a profit of 6 cents a share on sales of $294.1 million. The stock jumped 17.6%.

Administaff (ASF: chart) reported Q4 earnings of $10.9 million, or 39 cents a share, up from a year-ago profit of $3.5 million, or 14 cents a share on 22.8% revenue growth of $305.6 million. Analysts expected a profit of 27 cents a share on revenue of $303.2 million. The stock climbed 15%.

Hewlett-Packard (HPQ: chart), computer and printer giant, posted 30% profit jump in Q1, benefiting from restructuring efforts and higher personal-computer sales, beating estimates. The computer maker projected earnings for Q2 and 2006 above analyst consensus. The stock jumped 8.5%.

Expedia Inc (EXPE: chart), travel-services company, reported Q4 earnings drop of 43% to $25.2 million, or 7 cents a share from $44.1 million, or 13 cents a share a year ago. Excluding special items earnings came in at 20 cents a share compared with 27 cents last year. Revenue rose 13% to $494.7 million from $439 million, below estimates of revenue of $505 million. The stock dropped 15%.

Goodyear Tire & Rubber (GT: chart) posted a Q4 loss of $51 million, or 29 cents a share, down from a year-ago profit of $125 million, or 62 cents a share, missing estimates of net profit of 18 cents a share. Sales rose to $4.93 billion from $4.83 billion in the same period a year earlier.The company’s shares fell 4.2%.

ECONOMIC NEWS

Housing starts rose to their highest level in over 30 years in the month of January, according to a report from the Department of Commerce, with warmer than usual temperatures contributing to the growth.

The report showed that housing starts rose 14.5 percent to a seasonally adjusted annual rate of 2.276 million units in January from an upwardly revised 1.988 million unit rate in December. Economists had expected a more modest increase to a 2.0 million unit rate.

The increase in housing starts in January marked the biggest percentage increase since March of 1994, when starts rose 17.0 percent. With the increase, the pace of growth reached its highest level since March of 1974.

The growth reflected increases in housing starts in all four regions of the country, with housing starts in the Northeast and Midwest showing particularly strong growth.