Stocks fluctuate after mixed profit reports
NEW YORK -- Stocks are fluctuating in early trading as several stronger-than-expected earnings reports raise hopes that the economy is stabilizing.
Several companies are offering investors nuggets of optimism. Profits at Apple Inc. and eBay Inc. are boosting expectations for technology companies. Defense contractor Raytheon Co. has raised its full-year earnings forecast, and PNC Financial Services' first-quarter profit has come in well ahead of what analysts had been expecting.
Not all reports are upbeat, however. Earnings from UPS Inc., the world's largest shipping carrier, have fallen short of expectations.
The Dow Jones industrial average is down 13 at 7,874. The Standard & Poor's 500 index is up 4 at 848. The Nasdaq composite index is up 5 at 1,651.
