The markets open lower as investors continued to worry about corporate earnings and higher oil prices. The Dow fell 53 points to 13,514 while Nasdaq lost 4 points to 2790.
On the upside
Western Digital (NYSE: WDC) posted lower profits due to a one-time tax charge, but the results beat analysts' expectations.
IT technology provider Stanley (NYSE: SXE) posted sharply higher revenues and earnings due to strong sales to the U.S. military.
Tessera Technologies (Nasdaq: TSRA) announced higher revenues and earnings that beat targets while boosting its outlook for optical chip sales.
On the downside
Shares of Nationwide Financial Services (NYSE: NFS) fell after the company posted lower earnings due to investment losses in the stock market
Coinstar (Nasdaq: CSTR) posted sharply higher earnings, but revenues for the coin-counting machine operator barely rose.
Las Vegas Sands (NYSE: LVS) swung to a 4th quarter losses due to costs associated with the Macau location and a lower occupancy rate to allow for staff training as well as losses from gambling operations.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by a margin of 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 790.