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U.S. stocks open mixed amid corporate earnings reports

Xinhua, August 4, 2015 Adjust font size:

U.S. stocks opened mixed on Tuesday as investors were digesting a batch of corporate earnings reports.

Before Tuesday' s opening bell, Coach Inc. jumped over 6 percent in early trading after reporting better-than-expected quarterly earnings.

The luxury accessories maker reported net sales of 1 billion U.S. dollars for its fourth fiscal quarter ended June 27, 2015. Net income for the quarter totaled 85 million dollars, with earnings per diluted share of 0.31 dollar.

CVS Health Corporation posted net revenues of 37.2 billion dollars for the three months ended June 30, 2015, an increase of 7.4 percent from the same period a year ago, roughly in line with market expectations.

Its shares, however, tumbled over 4 percent in early trading on Tuesday as the U.S. drugstore operator gave a soft earnings outlook for its current quarter.

Shortly after the opening bell, the Dow Jones Industrial Average ticked up 19.91 points, or 0.11 percent, to 17,618.11. The S&P 500 added 1.72 points, or 0.08 percent, to 2,099.76. The Nasdaq Composite Index edged down 0.60 point, or 0.01 percent, to 5,114.78.

On Monday, U.S. stocks extended losses amid generally downbeat economic data as plunging oil prices hit Wall Street sentiment.

Oil prices plummeted over 4 percent on Monday as market expected crude production from the Organization of Petroleum Exporting Countries (OPEC) hit record high in July. Dragged by the diving oil prices, the energy sector slumped 2.01 percent as the greatest decliner in the S&P 500. Endi