Stocks trade mixed; Dow rises while tech skids

AP News
Posted: May 07, 2014 12:00 PM
Stocks trade mixed; Dow rises while tech skids

NEW YORK (AP) — The stock market is mostly higher in midday trading even as several Internet companies including AOL and Groupon take a plunge.

Several companies including Molson Coors and video game maker Activision Blizzard rose after reporting higher earnings. Whole Foods dropped 20 percent after cutting its profit forecast.

The Standard & Poor's 500 index rose seven points, or 0.3 percent, to 1,875 as of noon Eastern time Wednesday.

The Dow Jones industrial average rose 111 points, or 0.7 percent, to 16,512.

Technology stocks fell. The Nasdaq composite lost 21 points, or 0.5 percent, to 4,058.

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Mondelez International, which makes Triscuits and Oreos, soared 8 percent after saying it would combine its coffee business with D.E. Master Blenders.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.59 percent.