Microsoft's Unexpected Shortfall Weighs On Nasdaq

The Dow rose 23 points to close at 9093 while Nasdaq fell 7 points to 1965 as Microsoft earnings fell short of expectations due to a surprising drop in sales.

On the upside

LDK Solar (NYSE: LDK) lifted its revenue and shipment outlooks for the second quarter.

Analysts upgraded RadioShack (NYSE: RSH) citing improvements to the company's wireless business.

Con-way (NYSE: CNW) reported second quarter earnings that beat expectations prompting an upgrade.

On the downside

Morgan Keegan analyst Tavis C. McCourt downgraded Premiere Global Services (NYSE: PGI) after the company reported lower second quarter earnings.

Ashland (NYSE: ASH) reported lower preliminary earnings that fell short of expectations.

Western Alliance Bancorporation (NYSE: WAL) swung to a second quarter loss.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap added 2 points to 548.