Mixed Open As Consumer Sentiment Tumbles

The markets opened mixed with the Dow rising 46 points to 11,189 despite a gain in retail sales as consumer sentiment tumbled to the lowest level since May 1980. Nasdaq slipped 4 points to 2488.

On the upside

Nvidia (Nasdaq: NVDA) reversed year ago losses to post a profit for the second quarter as revenue rose and the graphics card maker forecast third quarter revenue ahead of estimates.

The Food and Drug Administration confirmed two design studies for MannKind's (Nasdaq: MNKD) inhaled insulin device Afrezza.

Molycorp (NYSE: MCP) swung to a better than expected profit for the second quarter as the rare earths mining company increased production.

On the downside

Dillard's (NYSE: DDS) reported higher second quarter earnings as revenue rose but margins remained flat.

Fourth quarter earnings plunged for Bally Technologies (NYSE: BYI) and the gaming equipment maker forecast 2012 results below expectations.

Sky-mobi (Nasdaq: MOBI) blamed slowing sales and increased competition for cutting its first quarter revenue guidance.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 695.