Opening Bell Report

The markets opened lower as investors mulled over the latest batch of earnings news. The Dow lost 26 points to 13,866 while Nasdaq fell 8 points to 2783.

On the upside

Shares of Nokia (Nasdaq: NOK) rose after the company reported brisk handset sales and profits that nearly doubled.

Logitech International (Nasdaq: LOGI) posted higher sales and profits, but noted that the computer peripheral maker will write down a portfolio of bad investments.

Callaway Golf (NYSE: ELY) set guidance for an adjust profit versus an expected loss due to strong consumer demand for its products.


On the downside

EBay (Nasdaq: EBAY) posted a loss due to a significant write-down of its Skype acquisition.

Bank of America (NYSE: BAC) posted lower profits as trading losses mounted and the nation's second largest bank struggled with mortgage-related loan problems and credit losses due to bankruptcy reform.

E-Trade Financial (Nasdsaq: ETFC) reported a loss after writing down a portfolio of mortgage-backed securities and lowering its outlook for the year.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by a margin of more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gave up 6 points to 818.

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