Mixed Open Over Earnings News
The markets opened mixed with the Dow climbing 63 points to 12,687 while Nasdaq slipped 2 points to 2785 over earnings news.
On the upside
First quarter earnings slipped for Skyworks Solutions (Nasdaq: SWKS) but the results topped analyst estimates and the chipmaker forecast current quarter results ahead of expectations.
The Food and Drug Administration lifted the clinical hold placed on Insmed's (Nasdaq: INSM) ARIKACE for treating patients with non-tuberculosis mycobacteria lung disease.
SunTrust Banks (NYSE: STI) reported higher fourth quarter earnings as loan loss provisions dropped.
On the downside
Google (Nasdaq: GOOG) reported higher fourth quarter earnings but the results fell short of expectations as advertising prices fell.
Capital One Financial (NYSE: COF) disappointed with sharply lower fourth quarter earnings as expenses increased.
Boardwalk Pipeline Partners (NYSE: BWP) priced its offering of 8 million common units at the discounted price of $27.55 per unit.
In the broad market, advancing issues barely edged out decliners by a margin by slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 782.
