U.S. stocks mixed amid tech disappointments

11:41 am ET Apr 18, 2007

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U.S. stocks mixed amid tech disappointments

NEW YORK
U.S. stocks turned mixed Wednesday, as upbeat earnings at the likes of
JP Morgan Chase & Co. and Intel Corp. were offset by concerns about the
technology sector, including lower-than-expected earnings at Yahoo Inc.
and a downgrade of IBM.

J.P. Morgan Chase's results top estimates; dividend increased

NEW YORK
J.P. Morgan Chase & Co. reported on Wednesday that a strong
investment-banking business helped drive first-quarter earnings up more
than 50%, but the bank also said its provisions for credit losses rose
21% amid higher losses in its sub-prime-mortgage business and it
cautioned that credit quality could deteriorate.