Better than expected earnings lifted the markets modestly during the midday with the Dow rising 27 points to 10,390. Nasdaq gained 13 points to 2255.
On the upside
Motorola's (NYSE: MOT) and ExtenData's Direct Store Delivery solution was selected by Foster Farms Dairy to improve operations and increase delivery route productivity.
Monsanto (NYSE: MON) chairman, chief executive and president Hugh Grant purchased nearly $2 million worth of company stock while chief financial officer Carl M. Casale bought approximately $1.5 million in stock.
Expeditors International of Washington (Nasdaq: EXPD) issued a second quarter outlook well above analyst estimates.
On the downside
Ritchie Bros. Auctioneers (NYSE: RBA) will provide a second quarter update and a revised 2010 outlook in a conference call tomorrow, July 15.
Morgan Stanley analyst Katy Huberty downgraded Lexmark International (NYSE: LXK) to and Underweight rating citing increased competition.
A drop in home loan applications weighed down shares of Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC).
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 641.
