Flat Open Over Mixed Earnings

The markets opened flat with the Dow adding 3 points to 15,013 while Nasdaq rose 8 points to 3597 over mixed earnings from retailers.

On the upside

Second quarter earnings soared for Best Buy (NYSE: BBY) as the electronics retailer cut costs.

J.C. Penney (NYSE: JCP) widened second quarter losses as revenue dropped but the stock price rose.

Ladenburg Thalmann initiated coverage of Superconductor Technologies (Nasdaq: SCON) with a Buy rating.

On the downside

Zillow (Nasdaq: Z) will offer approximately 5 million common shares at the discounted price of $82 per share.

LightInTheBox (NYSE: LITB) swung to a profit for the second quarter but the results missed expectations and the company forecast current quarter revenue below estimates.

Barnes & Noble (NYSE: BKS) widened first quarter losses more than expected and former chairman Leonard Riggio withdrew his offer to acquire the company's retail business.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 2 points to 1648.

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