The markets opened mixed with the Dow rising 19 points to 10,249 while Nasdaq lost 7 points to 2215 over mixed earnings.
On the upside
First quarter earnings for Cirrus Logic (Nasdaq: CRUS) surged to top estimates as demand recovered and the chip maker forecast second quarter revenue ahead of expectations.
Morgan Stanley (NYSE: MS) reversed year ago losses to post a better than expected profit for the second quarter.
Textron (NYSE: TXT) swung to a better than expected profit and lifted its full year outlook as the company cut expenses.
On the downside
Although Seagate Technology (Nasdaq: STX) swung to a fourth quarter profit as revenue rose, the results fell short of expectations.
While Yahoo's (Nasdaq: YHOO) earnings soared, revenue missed analyst estimates.
Stryker (NYSE: SYK) reported higher second quarter earnings but revenue came in below expectations.
In the broad market, advancing issues were on par with decliners on the NYSE while decliners outpaced advancers by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 623.
