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US stocks mixed after solid tech earnings reports

US stocks were mixed early Wednesday following solid earnings reports from leading technology companies.

About 55 minutes into trade, the Dow Jones Industrial Average was up 57.92 points (0.42 percent) at 13,770.13.

The broad-based S&P 500 fell 1.04 points (0.07 percent) to 1,491.52.

The tech-heavy Nasdaq Composite added 11.07 (0.35 percent) at 3,154.24.

The action came after technology companies IBM and Google reported solid earning results Tuesday after the market closed. Apple is slated to report earnings after the closing bell.

IBM shares were up 4.6 percent, while Google surged 5.4 percent. Apple was recently 0.8 percent higher.

"The US equity markets are modestly higher in early action, with the Street digesting a plethora of mixed earnings reports," said a Charles Schwab & Co market update.

MAP Pharmaceuticals surged 58.9 percent on news that it would be purchased by Allergan in a cash deal priced at a 60 percent premium to Tuesday's close.

Cree, a manufacturer of energy-efficient lights, rose 17.9 percent.

Intuitive Surgical, which makes machines used in surgery, rose 9 percent after besting analyst expectations.

Defense company General Dynamics dropped 2.4 percent after reporting earnings that came in below expectations.

Luxury retailer Coach slid 14.4 percent after reporting earnings that fell short of expectations.

Invesco Mortgage Capital dropped 2.8 percent after announcing an equity offering.

Senior Housing Properties Trust, also announcing an offering, fell 2.8 percent.

Bond prices rose. The yield on the 10-year US Treasury fell to 1.82 percent from 1.84 percent late Tuesday, while the 30-year slipped to 3.01 percent from 3.02 percent.

Bond prices and yields move inversely.