The markets markets opened mixed despite impressive earnings by Intel as June retail sales fell. The Dow lost 19 points to 10,343 while Nasdaq added 3 points to 2245.
On the upside
Intel (Nasdaq: INTC) reversed year ago losses to post a better than expected second quarter profit as revenue climbed and the chipmaker forecast third quarter revenue ahead of estimates.
Jackson Hewitt (NYSE: JTX) reported higher fourth quarter earnings that beat expectations as the tax preparation company cut expenses.
ADTRAN (Nasdaq: ADTN) impressed with higher second quarter earnings and revenue that beat expectations. The company also declared a quarterly dividend of 9 cents per share payable on August 12, 2010 to shareholders of record July 29, 2010.
On the downside
According to a Bloomberg, Glas Securities said that Allied Irish Banks (NYSE: AIB) may not pass European stress tests.
Whitney Holding (Nasdaq: WTNY) warned of higher credit loss provisions for the second quarter.
Annaly Capital Management (NYSE: NLY) will raise approximately $1.1 billion through the offering of 60 million common shares.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 4 points to 638.
