After lengthy negotiations and fitful starts, Greek leaders have at long last agreed on austerity measures but they must still meet with European finance ministers to secure funds for a second bailout. The markets opened mixed with the Dow adding 5 points to 12,889 while Nasdaq edged down a point to 2913.
On the upside
Akamai Technologies (Nasdaq: AKAM) reported higher fourth quarter earnings and revenue that surpassed analyst expectations.
First quarter earnings rose for Visa (NYSE: V) as credit card use climbed.
On the downside
Diamond Foods (Nasdaq: DMND) must restate financial results for two years and will replace its chief executive and chief financial officer after an internal audit revealed improper accounting related to payments for walnut growers.
Fourth quarter earnings rose for TripAdvisor (Nasdaq: TRIP) but the results fell far short of analyst expectations.
TriQuint Semiconductor (Nasdaq: TQNT) disappointed with sharply lower fourth quarter earnings and revenue.
In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 825.