U.S. stocks opened steeply lower on Thursday with eBay among the companies offering disappointing outlooks. The Dow Jones Industrial Average fell 79 points to 11,045. The S&P 500 Index declined 12 points to 1,193. The Nasdaq Composite shed 27 points to 2,477. A couple hundred earnings reports to go through this morning. A number of stocks are sharply lower following earnings including Ebay, Qualcomm, Janus, Peabody Energy, Union Pacific, Southwest Air, Kimberly Clark, Verizon, Pepsi, Philip Morris, Diamond Offshore, Fifth Third, Continental, Nokia, Blackstone, Nucor, NY Times, Sybase, Cypress Semi, Briggs & Stratton, and BB&T. In other words, most stocks and sectors are lower. A few stocks are higher following earnings including Chipotle Mexican Grill, Sallie Mae, Starbucks, Noble Drilling, Netflix, Hershey, Sandisk, Textron, and PNC Financial. Boeing is higher once again following strong earnings yesterday. Regional bank, Huntington Bancshares is higher thanks to an upgrade. And that's about it. After the first half an hour the Dow dropped 90 points while the Nasdaq declined 27 points.
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