The markets opened lower as investors mulled over the latest jobless claims report. The Dow lost 44 points to 12,507 while Nasdaq slipped 5 points to 2368.
On the upside
Comcast (Nasdaq: CMCSA) posted higher earnings as cable spending by consumers rose. The nation's largest cable operator also announced a dividend and the completion of a $6.9 billion stock buyback.
Goodyear Tire & Rubber (NYSE: GT) posted a profit versus year-ago losses citing strong U.S. and international sales.
Chinese Internet portal Baidu.com (Nasdaq: BIDU) posted higher profits as revenues doubled. Analysts raised their long-term targets for the stock.
On the downside
UBS AG (NYSE: UBS) posted a 4th quarter loss of $11 billion citing massive subprime mortgage charges. Switzerland's largest bank holds another $27 billion in subprime mortgage-related investments.
Shares of scientific equipment maker Agilent Technologies (NYSE:A) fell after the company posted lower profits due to eroding margins.
Graphics chipmaker Nvidia (Nasdaq: NVDA) reported higher earnings, but analysts worried that higher expenses may cut into margins.
In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 720.
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