The equities markets were mixed in New York at midday. The Dow Jones Industrial Average was 0.2 percent higher to 12,638.03, but the Nasdaq Composite had dropped 0.6 percent to 2,455.52 and the S&P 500 fell 0.2 percent to 1,443.95.
National Semiconductor dropped 4.3 percent to $22.31 after it reduced its guidance for its fiscal third quarter. It wasn’t the only decline in the sector, as 17 of the 19 companies listed on the Philadelphia Semiconductor index were lower on the session, taking the index 1.4 percent lower to 460.83.
Earnings reports were in focus. Avon Products, the cosmetics company, added 9.2 percent to $37.82 after it reported its first profit in six quarters. Net income was at $184.1 million, up from $183.2 million in the previous quarter. But Emerson Electric dropped 1.3 percent even though it reported that its profits were up by 12 percent in its fiscal first quarter. Duke Energy held steady at $20.28 despite reporting that its net income in the fourth quarter was down by 36 percent.
Cisco Systems dropped 1 percent to $27.24 ahead of its quarterly report, which was scheduled to be released after the end of the session. It is expected that it will report earnings that were 20 percent higher in the quarter.