The results were met with a round of bullish brokerage notes, sending TXN stock up 4.6% in pre-market trading. The losing streak was its longest in more than a year. And while futures on the Nasdaq-100 Index (NDX) are up, as well, the S&P 500 Index (SPX) looks set to open in negative territory.
Big health care, energy and retailing stocks posted gains Wednesday.
Boeing was one the top gainers of the day.
Earnings per share of 16 cents were four cents above the consensus forecast. Meanwhile, the Alphabet stocks fell by more than 4.5%. Comcast also reported a first-quarter earnings beat on in-line revenue.More news: Beijing: BMW Concept iX3
Stocks are opening slightly lower, extending the market's losses, after several companies reported weak results or warned of higher costs.
Wall Street limped into positive territory on Wednesday on optimism over a spate of upbeat earnings that was almost offset by jitters over rising US bond yields and corporate costs.
Japan's benchmark Nikkei 225 slipped 0.3 percent to 22,206.51 and Hong Kong's Hang Seng lost 0.8 percent to 30,378.89.
The tech industry was the main driver of the market losses today as Wall Street analysts lowering profit estimate from tech giant Google, which lost $36 billion.More news: BJP announces first list of candidates for Karnataka polls
The company said the move will help it speed up the development of its lead drug, Oncoprex, as a potential treatment for lung cancer. The stock dropped 5.6 percent to $145.38.
Power systems maker Vicor Corporation (NASDAQ:VICR) was another small cap revving higher on Wednesday. CAT even guided higher for 2018 profit. The Russell 2000 index of smaller-company stocks lost 2.81 points, or 0.2 percent, to 1,550.47. The Nasdaq Composite was lower at 7,003.74 for a loss of -3.61 points or -0.05%.
US stocks slid on Tuesday as 10-year Treasury yields hit the highly anticipated 3 per cent mark for the first time in four years, stoking concerns over higher borrowing rates for companies already facing rising costs, and as quarterly results failed to deliver positive outlooks.More news: Malaysia releases images of suspects in Palestinian killing
There were some upbeat quarterly earnings from major companies, but that was dampened by the market's concerns over rising bond yields and borrowing costs. The U.S. economy is still on track for a strong 2018 with record low unemployment and steady growth, but rising interest rates and inflation could spur a slowdown in equities investment.
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