Stocks Finish Mixed

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In other U.S. markets Tuesday, the 10-year Treasury note was up 1-31/32 to 105-17/32 for a yield of 3.106% and the 30-year bond was up

2-10/32 to 115-04/32 for a yield of 3.657% after the Fed announced plans to purchase as much as $600 billion in mortgage securities. The Fed move prompted investors to hedge against losses in their portfolios, according to Bloomberg dispatch.

Th U.S. dollar index was lower at 85.06.

January West Texas Intermediate crude oil futures were off $3.66 to $50.84 per barrel Tuesday on profit taking from a two-day rally. There is some speculation tomorrow's Dept. of Energy report will show increases in inventories due to a demand slowdown. The American Petroleum Institute reported last week that U.S. fuel demand dropped 5.2% in the first 10 months of the year, the biggest drop since 1981.

December gold futures were lower at $818.10 per ounce Tuesday on profit taking from a two-day rally. The market could see some volatility as traders and funds adjust portfolios at the end of the month, says S&P MarketScope.

Among Tuesday's stocks in the news, Hewlett-Packard (HPQ) posted fourth-quarter non-GAAP EPS of $1.03, vs. 86 cents one year earlier, on a 19% revenue rise. EPS was in line with HP's preannouncement. Based on current exchange rates, the copmpany now expects an unfavorable year-over-year currency impact on revenue of about 5 percentage points in the fiorst quarter and roughly 6-7 percentage points for fiscal 2009. It sees first-quarter revenue of about $32 billion-$32.5 billion, with non-GAAP EPS of 93 cents-95 cents, and fiscal 2009 revenue of $127.5 billion-$130.0 billion, with non-GAAP EPS of $3.88-$4.03.

The board of mining giant BHP Billiton (BHP) said it no longer believes that completion of the company's unsolicited all-stock offer to acquire Rio Tinto (RTP) would be in the best interests of BHP shareholders.

Vimpel Communications (VIP) posted third-quarter earnings per American Depositary Share of 27 cents, vs. 45 cents one year earlier, despite a 45% revenue rise. The company notes net income was negatively affected by currency exchange rate fluctuations, resulting in a $341 million net forex loss as 82% of its debt was denominated in US dollars. Vimpel said that while its operations have not yet been affected by the financial turmoil, it clearly understands it will not be immune to it going forward.

Analog Devices (ADI) reported fourth-quarter EPS from continuing operations of 49 cetns, vs. 30 cents one year earlier, on a 6% revenue rise. However, the company said order rates slowed in late September, and backlog declined significantly from the prior quarter, which limits ADI's short-term visibility. The company currently expects first-quarter revenue to decline sequentially by about 20%; it sees EPS from continuing operations of 22 cents-23 cents, excluding charges.

Inter Parfums (IPAR) cut its 87 cents 2008 EPS view to about 81 cents on revenue of about $445 million (down from its previous view of $460 million), citing the recent sustained strength of the U.S. dollar against the euro. The company believes 2009 will continue to be challenging with the likelihood of a prolonged global recession. It says its initial guidance for 2009 in absolute dollars calls for net sales of about $405 million and EPS of 85 cents.

Andrews is managing editor of the Investing Channel for BusinessWeek.com .