Some highlights from the day's business news:
Stocks edged higher Thursday as momentum in the technology sector offset disappointing reports on economic growth and the labor market.
The Dow Jones industrial average rose 8 points, or 0.1%, to end at 12,403; the S&P 500 added 5 points, or 0.4%, to 1,326; and the tech-heavy Nasdaq Composite gained 22 points, or 0.8%, to close at 2,783. The Dow had been down more than 70 points earlier in the session.
Technology shares helped offset broader market losses, with technology blue chip Microsoft rising 2% and Hewlett-Packard gaining 1.5%. Microsoft shares were higher after large shareholder David Einhorn called for CEO Steve Ballmer to step down.
"All these tech giants like Microsoft, Dell, HP have gotten so big, they're very hard to manuveur," said Daniel Morgan, portfolio manager with Synovus Trust Co., who also owns Microsoft shares.
Among other tech names, NetApp shares jumped 7% after the data storage company reported strong quarterly results late Wednesday and issued an upbeat outlook for the current quarter.
Facebook blasts Ceglia lawsuit as 'outrageous fraud'
Paul Ceglia's claim that an eight-year-old contract signed by Facebook founder Mark Zuckerberg entitles him to 50% ownership of the company "is a brazen and outrageous fraud," Facebook said Thursday in a court filing responding to Ceglia's lawsuit.
Calling him "an inveterate scam artist whose misconduct extends across decades and borders," Facebook blasted Ceglia's lawsuit as "his latest and most far-reaching fraud," one based on "a doctored contract and fabricated evidence."
Zuckerberg did have actual business dealings with Ceglia, a Wellsville, N.Y., resident who ran a series of local businesses.
In early 2003, Zuckerberg - then a Harvard student who frequently accepted work-for-hire programming jobs he found through Craigslist - signed a written agreement to do work for Ceglia on a now-defunct website called StreetFax.com.
That contact became fodder for a "'cut-and-paste' job fraudulently manufactured" by Ceglia for his lawsuit, Facebook said in its filing.
– CNNMoney's Ken Sweet and Stacy Cowley contributed to this report.