Worries About Greece's Upcoming Debt Payments Weigh Down Markets

Renewed concerns about Greece's ability to make upcoming debt payments weighed the markets down to a lower open with the Dow losing 14 points 11,190. Nasdaq fell 6 points to 2516.

On the upside

Tellabs (Nasdaq: TLAB) reported first quarter earnings that surged nearly sevenfold to beat expectations.

First quarter earnings for Western Union (NYSE: WU) slipped but revenue rose to top estimates.

US Airways (NYSE: LCC) narrowed first quarter losses more than expected as revenue rose.

On the downside

Sterling Financial (Nasdaq: STSA) widened first quarter losses and announced that Thomas H. Lee Partners will invest $134.7 million.

Office Depot (NYSE: ODP) swung to a first quarter profit but the results fell short of expectations.

Emulex (NYSE: ELX) reversed year ago losses to post a profit for the third quarter but revenue missed estimates and the company forecast fourth quarter results below expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 737.