NEW YORK (CNN/Money) - A slew of economic reports scheduled for release on Friday may support mounting evidence of an economic upswing.

Stocks closed higher, but well off their highs for the day Thursday, as early enthusiasm about a trio of strong economic reports gave way to profit taking and caution ahead of Friday's bundle of news.

ChipPAC and Walt Disney Co. were among the biggest movers in after-hours trading Thursday. ChevronTexaco, CIGNA and Xcel Energy are expected to be active movers on Friday.

ChipPAC, a semiconductor assembly and test services provider, narrowed its net loss for the second quarter to 3 cents a share, but the results missed consensus estimates by a penny. The company also said it expected a third-quarter loss of 5 cents to 8 cents a share. Analysts polled by First Call were expecting a profit of 3 cents a share.

ChipPAC (CHPC: Research, Estimates) shares fell 9.6 percent to $5.15 in after-hours trading on Instinet after closing 3.6 percent lower at $5.70 on Nasdaq.

Walt Disney shares soared after hours, after the media and entertainment company reported a third-quarter profit of 19 cents a share, 3 cents better than Wall Street expected and 2 cents better than a year earlier.

Disney's (DIS: Research, Estimates) stock rose nearly 3 percent to $22.50 in after-hours trading on Instinet after closing a modest 1 percent higher at $21.92 on the New York Stock Exchange.

Friday's bevy of economic reports includes a national look at manufacturing as well as monthly unemployment figures. This heavy earnings week will wrap up with reports from ChevronTexaco, Cigna and Xcel Energy.

Analysts surveyed by Reuters Research expect ChevronTexaco (CVX: Research, Estimates) to report second-quarter earnings of $1.52 a share, up from $1.16 a year ago.

Insurer Cigna (CI: Research, Estimates) is expected to report lower second-quarter earnings of $1.08, down from $1.95 in the year-ago period, according to Reuters Research.

Analysts also expect Xcel Energy (XEL: Research, Estimates) to report lower earnings for the second quarter. The utility company is expected to report earnings of 23 cents a share for the quarter, down from 37 cents a year ago, according to Reuters Research.