The markets opened flat with the Dow edging up a point to 15,485 while Nasdaq added 3 points to 3610 on disappointing earnings.
On the upside
Citigroup upgraded Baidu (Nasdaq: BIDU) from a Sell rating to a Neutral rating.
Renesola (NYSE: SOL) lifted its second quarter shipment and revenue outlook.
On the downside
Joe's Jeans (Nasdaq: JOEZ) disappointed with lower second quarter earnings that fell short of analyst expectations and announced plans to buy privately held Hudson Clothing for approximately $97.6 million.
Coco-Cola (NYSE: KO) blamed poor weather and a weak global economy for lower second quarter earnings and revenue.
Second quarter earnings slipped for Charles Schwab (NYSE: SCHW) to fall short of expectations as expenses rose.
In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The broader S&P 500 index eased a fraction to 1681.
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