Stocks were held to minor gains as a mixed bag of corporate earnings reports hampered Wall Street's recovery from sharp losses in the previous session. Internet companies helped the technology sector outperform most other stocks.
The Dow Jones industrial average rose 6.65 to close at 11,002.78 after dropping 191 points on Tuesday.
Broader indicators fared better than the Dow. The Standard & Poor's 500-stock index rose 2.19, to 1379.29, and the Nasdaq composite index, laden with technology stocks, rose 29.59, to 2761.77, after a 98-point drop Tuesday.
Last week, investors pushed stocks to record highs on the promise of strong corporate earnings for the second quarter. This week marks the peak of the earnings-reporting season, with more than 1,000 companies scheduled to report.
Today, Goodyear provided the first major disappointment in an otherwise stellar earnings season. The tire and rubber maker, a component of the Dow, said second-quarter earnings fell 67 percent, steeper than analysts had expected. Goodyear stock fell 2 7/8, to 54 3/4, preventing the Dow from making a stronger advance.
Still, two other Dow components posted solid earnings. Eastman Kodak earned $1.52 per share, beating analysts' expectations by a penny, and Exxon met analysts' prediction of earnings of 49 cents per share.
Kodak stock slipped 1/4, to 73, and Exxon shares rose 3/16, to 78 1/8.
Chase Manhattan became the latest of many banks and brokerages to report strong second-quarter earnings. Shares rose 7/16, to 81-5/16, after the bank posted earnings of $1.55 a share. Analysts surveyed by First Call Corp. had expected $1.37 per share.
RealNetworks shot up 10 1/8, to 87-15/16, after the company, which develops Internet software, said late Tuesday that it broke even in the second quarter. Analysts had anticipated a slight loss.
Centocor rose 7 7/8, to 57 3/8, after Johnson & Johnson agreed to acquire the biotechnology company for $4.9 billion in stock.