The markets advanced modestly during the midday with the Dow gaining 17 points to 12,612 ahead of comments about the nation's economy from Federal Reserve Chairman Ben Bernanke. Nasdaq edged up a fraction to 2847.
On the upside
Silicon Image (Nasdaq: SIMG) narrowed first quarter losses as revenue climbed prompting an upgrade.
Rite Aid (NYSE: RAD) reported that same store sales rose 0.5% in April.
Moody's (NYSE: MCO) reported sharply higher first quarter earnings that surpasses analyst expectations by a wide margin prompting the company to lift its 2011 full year guidance.
On the downside
SuccessFactors (Nasdaq: SFSF) reversed year ago losses to post a profit for the first quarter but the company forecast a breakeven second quarter.
National Oilwell Varco (NYSE: NOV) reported lower first quarter earnings.
Rockwell Automation (NYSE: ROK) reported higher second quarter earnings that topped estimates but the company warned that last month's earthquake and tsunami in Japan may negatively impact its supply chain.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 851.
