Stocks Finish Mixed

Investors Tuesday weighed disappointing results from Johnson & Johnson. After the bell, Intel reported a higher than expected profit

U.S. stocks closed mixed Tuesday as merger news involving Cisco Systems (CSCO) lifted some tech issues while the broader market fell on a third-quarter sales shortfall at Johnson & Johnson's (JNJ) and a reported rating downgrade of Goldman Sachs (GS) by influential analyst Meredith Whitney. Investors remained uncertain ahead of a slew of earnings reports due over the next couple of weeks.

Intel's(INTC) reported third-quarter results after the close of trading Tuesday. The chipmaker's sales fell 8% to $9.4 billion. Net income was $1.9 billion, or 33 cents per share, versus $2.0 billion, or 35 cents a share, in the year-ago period. Both numbers were better than Wall Street projected and Intel offered better-than-expected sales guidance for the fourth quarter.

Major banks were expected to release results later in the week.

On Tuesday, the 30-stock Dow Jones industrial average finished lower by 14.74 points, or 0.15%, at 9,871.06. The broad Standard & Poor's 500-stock index was down 3.00 points, or 0.28%, at 1,073.19. The tech-heavy Nasdaq composite index gained 0.75 points, or 0.04%, to 2,139.89.

On the New York Stock Exchange, 17 stocks were lower in price for every 13 that advanced. Breadth on the Nasdaq was 15-12 negative.

The dollar fell. Treasuries rose. Oil and gold futures finished higher.

European equity markets ended lower with benchmark indexes down 1.08% in London, 1.15% in Paris and 1.19% in Frankfurt.

Asian stocks moved higher. Benchmark indexes climbed 0.60% in Tokyo, 0.79% in Hong Kong, and 1.44% in Shanghai.

With no major U.S. economic data due on Tuesday, third-quarter earnings were in the spotlight. Investors hope the results will support the theory that the economy is rebounding, says S&P MarketScope.

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