AmEx, eBay go in opposite directions; US stocks flat

Shares of eBay plunged while American Express rallied following earnings reports, as US stocks treaded water Thursday in early trading.

Online marketplace eBay fell nearly 10 percent on disappointment over its sales outlook for the key holiday quarter.

Meanwhile, American Express jumped 8.9 percent as it lifted its full-year forecast following better-than-expected third quarter net profits.

The mixed earnings came as the European Central Bank kept rates on hold, as expected, while ECB President Mario Draghi dismissed talk of winding down the bank's massive stimulus program, which he said was not discussed by policymakers.

About 45 minutes into trading, the Dow Jones Industrial Average stood at 18,229.77, up 0.2 percent.

The broad-based S&P 500 rose less than 0.1 percent to 2,144.38, while the tech-rich Nasdaq Composite Index shed 0.1 percent to 5,243,51.

Dow member Verizon dropped 21 percent as third-quarter net income fell 10.2 percent to $3.8 billion as it cited the hit from the recall and subsequent cancelation of the Samsung Galaxy Note 7 smartphone.

Walgreens Boots Alliance rose 3.8 percent as it reported better-than-expected fourth quarter earnings and said it was delaying the time-frame for closing its deal to acquire rival pharmacy chain Rite Aid. The deal is now expected to close by January 27, 2017 instead of October 27, 2016. Rite Aid rose 6.8 percent.

American Airlines lost 1.9 percent after reporting that third-quarter net income fell 56.5 percent to $737 million as tough competition among carriers and lackluster economic growth dented revenues.

Toymaker Mattel surged 6.5 percent after third-quarter net income rose 5.6 percent to $236.3 million following strong sales for its Barbie and American Girl brands.