Stocks struggle despite earnings

NEW YORK (CNNMoney.com) -- Stocks struggled Tuesday morning, as investors weighed Texas Instruments' upbeat forecast and IBM's $15 billion share repurchase news with weaker-than-expected reports on consumer confidence and housing.

The Dow Jones industrial average (up 15.93 to 12,935.33, Charts) was little changed in the early going. The broader S&P 500 (down 3.59 to 1,477.34, Charts) index and the Nasdaq (down 5.41 to 2,518.26, Charts) composite both lost around 0.2 percent.

All three major gauges had dipped modestly Monday after ending the previous week at multi-year highs. The Dow had ended last week at an all-time high, while the S&P and Nasdaq had ended the week at more than 6-year highs.

The major gauges inched higher in the first 30 minutes of trading Tuesday, thanks to the corporate news. But stocks slipped after the 10:00 a.m. ET economic reports.

Existing home sales fell to a 6.12 million unit annual rate in March from a 6.69 million unit rate in February. Economists thought sales would fall to a 6.45 million unit rate.

The Consumer Confidence index fell to 104.0 in April from a revised 108.2 in March. Economists surveyed by Briefing.com thought it would fall to 105.0.

IBM (up $4.30 to $99.51, Charts, Fortune 500) announced Tuesday that it was increasing its quarterly dividend to $0.40 per share from $0.30 per share. The company also said it has authorized an additional $15 billion for stock repurchases in addition to $1.4 billion that remained at the end of March from a previous authorization.

IBM shares jumped more than 4 percent.

Late Monday, Texas Instruments (up $2.57 to $34.98, Charts, Fortune 500) reported lower quarterly earnings and revenue that topped estimates. The chipmaker issued second-quarter earnings per share and revenue forecasts in a range that could meet or exceed analysts' expectations. TI shares jumped Tuesday morning.

Fellow chipmaker Altera (up $1.32 to $22.64, Charts) reported higher quarterly earnings that beat estimates late Monday, sending shares higher Tuesday.

Dow stock DuPont (up $0.73 to $49.92, Charts, Fortune 500) reported higher quarterly sales and earnings Tuesday that topped estimates. Shares rose 1.5 percent.

Fellow Dow stock AT&T reported higher quarterly earnings that topped estimates Tuesday morning. But the stock slipped modestly amid some analyst concerns about its wireless customer growth numbers.

U.S. light crude oil for June delivery rose 21 cents to $66.10 a barrel on the New York Mercantile Exchange.

Treasury prices rose, lowering the yield on the 10-year note to 4.64 percent from 4.65 percent late Monday. Treasury prices and yields move in opposite directions.

In currency trading, the dollar was little changed versus the euro and gained versus the yen.