US stocks open mixed

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New York - US stocks Wednesday opened mixed following the latest batch of mediocre fourth quarter corporate earnings reports.

Five minutes into trade, the Dow Jones Industrial Average declined 16.76 (0.10 percent) to 16,397.68.

The broad-based S&P 500 rose 2.38 (0.13 percent) to 1,846.18, while the tech-rich Nasdaq Composite Index gained 8.09 (0.19

percent) to 4,233.85.

Many companies' quarterly earnings in recent days have beaten expectations on profit, but have disappointed on profit outlook, revenue or other key benchmarks.

Dow component IBM fell 3.8 percent in early trade after beating earnings expectations by 14 cents per share, but falling short on revenue. - Sapa-AFP

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