The markets traded mixed during the midday with the Dow losing 8 points to 18,465 as investors await the Federal Reserve's interest rate decision. Nasdaq gained 18 points to 5,128.
Investors and analysts had been bracing for a sharp drop in iPhone sales and Apple revenue in the third quarter. While both did fall, the decrease was not as sharp as expected. Apple also forecast stronger than expected revenue for the current quarter.
The global downward trend of soda consumption has negatively impacted Coca-Cola. Second quarter soda sales by volume slipped 1% while revenue fell 5%. Weakness in China and Argentina also contributed to the revenue shortfall. The world's largest soda maker lowered its full year sales forecast.
The challenge to grow its revenue and user base continues to plague Twitter. The microblogging site boasts 313 million users but has failed to monetize those eyeballs. Second quarter revenue fell short of expectations and the company's third quarter guidance missed analyst estimates by a wide margin.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 lost 4 points to 2,164. Bitcoin edged up to $652.
