Markets Mixed Despite Upbeat Earnings

The markets traded mixed during the midday with the Dow gaining 46 points to 12,810 despite upbeat earnings news. Nasdaq eased a point to 2870.

On the upside

First quarter earnings for Ancestry.com (Nasdaq: ACOM) more than doubled to beat analyst expectations as revenue surged and the company forecast current quarter and full year results ahead of estimates.

Higher oil prices lifted first quarter earnings for Occidental Petroleum (NYSE: OXY).

Key Energy Services (NYSE: KEG) widened first quarter losses but the results were better than expected.

On the downside

RBC Capital Markets downgraded Regeneron Pharmaceuticals (Nasdaq: REGN). 

Newell Rubbermaid (NYSE: NWL) reported higher first quarter earnings but revenue slipped to fall short of expectations.

Monster Worldwide (NYSE: MWW) reversed year ago losses to post a profit for the first quarter but the online employment site forecast second quarter income that missed expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 866.