The stock market completed Thursday trade in negative territory as market traders digested a collection of mixed earnings announcements and adopted a cautious approach amid uninspiring economic activity and enduring negotiations in Greece to cut debt burden.

The three major indexes started the trade but later lost ground when government data showed sales of new homes suddenly dropped in December and suffered the record sluggish year for builders. The Dow Jones industrial average Index lost 22 points or 0.2%, the S&P 500 dipped 8 points or 0.6%, and the NASDAQ Composite Index dropped 13 points, or 0.5%.

Financial results of fourth-quarter also remained in the highlight. Caterpillar Inc. (NYSE:CAT) and 3M Company (NYSE:MMM) were among top gainers of the Dow after reporting higher-than-anticipated earnings, while Netflix, Inc. (NASDAQ:NFLX) with a rise of above 20% stood top performer on both the S&P 500 as well as the NASDAQ but two including Noble Corporation (NYSE:NE) and Bristol Myers Squibb Co. (NYSE:BMY) missed expectations. Colgate-Palmolive Company (NYSE:CL) posted in-line earnings.

Among other biggest winners of the S&P 500 after providing positive outlook for the starting three months of 2012 were J.C. Penney Company, Inc. (NYSE:JCP) which soared 18.79% to $40.72 and LSI Corporation (NYSE:LSI) surged 10.88% to $7.85.

On the lower end, AT&T Inc. (NYSE:T) suffered the most among thirty Dow components after releasing earnings results that were below estimates of Street analysts. SanDisk Corporation (NASDAQ:SNDK) also weighed on both the NASDAQ and the S&P 500 as faced a huge fall of 11.37% after posting disappointing results.

E TRADE Financial Corporation (NASDAQ:ETFC) was the top declining stock on the S&P 500 after reporting an unexpected loss for the fourth quarter.

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