Stocks Move Mostly Lower

(AP) -- U.S. stock indexes veered mostly lower in midday trading Tuesday, weighed down by a slide in technology companies. Investors were poring through the latest company earnings news. Mining and energy stocks were among the biggest gainers as the price of oil rebounded.

KEEPING SCORE: The Dow Jones industrial average rose seven points to 18,011 as of 12:15 p.m. Eastern time. The Standard & Poor's 500 index shed less than one point to 2,093. The Nasdaq composite index fell 36 points, or 0.7 percent, to 4,923.

CTRL-ALT-DEL: IBM slid 6.3 percent after the company delivered improved first-quarter earnings thanks to a big tax refund, but also lower revenue amid weaker software sales. The stock shed $9.61 to $142.92.

FORECAST LETDOWN: Illumina sank 24.7 percent after the genetic testing tools maker predicted that sales in the first quarter will be far lower than analysts expected. Illumina shares were down $44.12 at $134.01.

BIG GAINER: Rig operator Transocean jumped 10.7 percent, the biggest gain among companies in the S&P 500. The stock added $1.05 to $10.80.

MINE THIS: Several mining companies were up sharply. Freeport-McMoRan gained 77 cents, or 7 percent, to $11.79, while Newmont Mining rose $1.25, or 4.2 percent, to $30.71.

ENERGY PLAY: Investors bid up oil and natural gas drilling and production companies. Oneok climbed $1.63, or 5.1 percent, to $33.79, while Diamond Offshore Drilling rose $1.10, or 4.9 percent, to $23.45. Noble Energy gained $1.57, or 4.8 percent, to $34.14.

TUNING OUT: Netflix slumped 11.4 percent a day after the streaming video company's latest subscriber forecast disappointed investors. Netflix's first-quarter revenue also fell short of Wall Street's expectations. Thestock lost $12.33 to $96.05.

HEALTHIER OUTLOOK: UnitedHealth Group added 1.5 percent after health insurance company raised its guidance for the year and reported strong results for the first quarter. The stock gained $1.88 to $129.69.

STRONG QUARTER: Kansas City Southern gained 3.8 percent after the railroad operator posted larger-than-expected quarterly earnings. The stock rose $3.49 to $94.96.

OVERSEAS: Upbeat economic data and a rebound in oil prices lifted European markets. Germany's DAX was up 2.2 percent, while France's CAC 40 was up 1.3 percent. Britain's FTSE 100 was up 0.8 percent. Earlier in Asia, Japan's Nikkei rallied 3.7 percent a sharp loss on Monday. South Korea's Kospi rose 0.1 percent, while Hong Kong's Hang Seng index gained 1.3 percent.

ENERGY: Benchmark U.S. crude was up $1.34, or 3.4 percent, to $41.12 a barrel in New York. Brent crude, the international benchmark, was up $1.12, or 2.6 percent, to $44.03 a barrel in London. Natural gas was up 10 cents, or 5.2 percent, to $2.04 per 1,000 cubic feet.

BONDS AND CURRENCIES: Bond prices fell. The yield on the 10-year Treasury note rose to 1.79 percent from 1.77 percent late Monday. In currency markets, the yen resumed its slide with the dollar strengthening to 109.12 yen from 108.82 yen. The euro rose to $1.1372 from $1.1314.

(KA)