Lower Open On Weak Income

The markets opened lower with the Dow losing 13 points to 12,194 as consumer income barely edged up 0.1% in September. Nasdaq fell 6 points to 2732.

On the upside

Advanced Micro Devices (NYSE: AMD) reversed year ago losses to post a better than expected profit for the third quarter.  

Third quarter earnings surged for Interpublic Group of Companies (NYSE: IPG) to surpass analyst expectations. 

Newell Rubbermaid (NYSE: NWL) swung to a loss but the results were better than expected. 

On the downside

Whirlpool (Nasdaq: WHR) reported higher third quarter earnings but announced plans to eliminate more than 5,000 positions and slashed its full year guidance.

Third quarter earnings dropped for Cablevision (NYSE: CVC) to fall far short of analyst expectations.   

Aon (NYSE: AON) reported higher third quarter earnings but the results missed analyst estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 761.

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