Opening Bell Report
The markets opened mostly lower as investors mulled over the latest earnings news amid rising oil prices. The Dow lost 30 points to 11,341 while Nasdaq fell 7 points to 2302.
On the upside
Shares of Amgen (Nasdaq: AMGN) after the company reported positive trial results for its osteoporosis drug candidate.
Kraft Foods (NYSE: KFT) reported a slight increase in profits and boosted its outlook for the year.
Egg producer Cal-Maine Foods (Nasdaq: CALM) posted 4th quarter profits that nearly doubled due to strong demand and short supply.
Toyota (NYSE: TM) still expected record auto sales for the year, but lowered its targets due to a sluggish North American market.
Verizon Communications (NYSE: VZ) posted higher profits and margins that beat expectations, but investors remained worried about the impact of the U.S. economic downturn on enrollment of subscribers.
On the upside
Shares of Amgen (Nasdaq: AMGN) after the company reported positive trial results for its osteoporosis drug candidate.
Kraft Foods (NYSE: KFT) reported a slight increase in profits and boosted its outlook for the year.
Egg producer Cal-Maine Foods (Nasdaq: CALM) posted 4th quarter profits that nearly doubled due to strong demand and short supply.
On the downside
Chicken producer Tyson Foods (NYSE: TSN) reported a sharp decline in profits due to the rising cost of grain to feed livestock.Toyota (NYSE: TM) still expected record auto sales for the year, but lowered its targets due to a sluggish North American market.
Verizon Communications (NYSE: VZ) posted higher profits and margins that beat expectations, but investors remained worried about the impact of the U.S. economic downturn on enrollment of subscribers.
In the broad market, declining issues outpaced advancers by a slim margin on the NYSE and by a margin of 4 to 3 on Nasdaq. The
Russell 2000 which tracks small cap stocks slipped 2 points to 707.
