The markets opened higher as employers cut jobs in April, but the decline was better than expected. The Dow rose 66 points to 13,076 while Nasdaq edged up 3 points to 2484.
On the upside
Chevron (NYSE: CVX) posted its best first quarter performance as earnings beat estimates. Its oil fields were able to fetch sharply higher prices per barrel, but profit margins at its retail service stations dropped to almost nothing.Internet data analysis provider comScore (Nasdaq: SCOR) reported strong subscription sales and higher income.
Investment research firm Morningstar (Nasdaq: MORN) posted higher revenues and earnings that beat expectations.
On the downside
Sun Microsystems (Nasdaq: JAVA) unexpectedly reported a loss and blamed a revenue miss on the slow U.S. economy.
Investools (Nasdaq: SWIM) posted higher revenues and lower earnings that missed estimates. The company also announced that the SEC opened an inquiry related to certain presentations made at the company's investment education seminars.
NetSuite (NYSE: N) warned that the company may post a loss in the 2nd quarter. Investors worried that the business management software may be hurt by cuts in corporate spending.In the broad market, advancing issues outpaced decliners by a margin
of nearly 2 to 1 on the NYSE and by 10 to 9 on Nasdaq. The Russell
2000 which tracks small cap stocks edged up a point to 731.
