Stocks mixed on weak earnings, State of the Union

NEW YORK (AP) — Stocks are mixed in early trading as weak earnings results overshadow President Barack Obama’s call to overhaul corporate taxes.

Xerox Corp., Boeing Co., Eastman Kodak Co. and United Continental Holdings Inc. all reported lower earnings today.

That offset some enthusiasm related to Obama’s State of the Union address late Tuesday. Obama said he wanted to close corporate tax loopholes and use the additional revenue to lower corporate tax rates for the first time in 25 years.

At the opening bell, the Dow Jones industrial average is down 7 points, or 0.1 percent, to 11,971. The Standard & Poor’s 500 index is up 3, or 0.2 percent, at 1,294. The Nasdaq composite index is up 6, or 0.2 percent, at 2,724.