Stocks are flat in early trading on Wall Street

AP News
Posted: Dec 14, 2012 9:44 AM

NEW YORK (AP) — Stocks are opening mixed on Wall Street after a drop in U.S. consumer prices and a strong survey of Chinese manufacturing failed to excite investors.

The Dow Jones industrial average was up three points at 13,174 shortly after the opening bell Friday.

The Standard & Poor's 500 index edged down two points to 1,417 and the Nasdaq composite lost 12 points to 2,979.

Adobe, which makes Photoshop photo-editing software, jumped 7 percent after the company reported earnings that beat Wall Street's expectations. Analysts are optimistic about the potential of the company's new subscription service to increase revenue.

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Best Buy dropped 12 percent after the struggling electronics retailer and its former chairman agreed to give the executive more time to assemble investors to make a bid for the company.