Stocks mixed on mixed earnings news...Jobless claims rise...Mortgage rates fall

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Associated Press

Posted on July 25, 2013 at 10:02 AM

NEW YORK (AP) — Stocks are mixed in early trading on Wall Street after several companies reported disappointing results. Home builder PulteGroup plunged 9 percent after a 14 percent plunge profits. Technology shares fared better. Facebook soared 27 percent after reporting earnings late yesterday that easily beat the forecasts of Wall Street analysts as mobile ad revenue rose.

WASHINGTON (AP) — The Labor Department says the number of Americans applying for unemployment benefits rose by 7,000 last week to a seasonally adjusted 343,000. The increase follows a drop of 22,000 the previous week. The four-week average, which smooths out weekly fluctuations, fell 1,250 to 345,250.

WASHINGTON (AP) — Orders for long-lasting U.S. factory goods rose in June, bolstered by higher aircraft demand. The Commerce Department says orders for durable goods increased 4.2 percent last month, following a 5.2 percent gain in May, which was revised higher. Excluding autos and airplanes, orders were unchanged. A category of orders that signals companies' investment plans increased 0.7 percent.

WASHINGTON (AP) — Average rates on U.S. fixed mortgages have fallen for the second straight week. Mortgage buyer Freddie Mac says the average on the 30-year loan fell to 4.31 percent this week from 4.37 percent last week. It's still nearly a full percentage point higher than in early May. The average on the 15-year fixed loan declined to 3.39 percent, down from 3.41 percent last week

NEWARK, N.J. (AP) — Four Russian nationals and a Ukrainian have been charged with running a sophisticated hacking organization that penetrated computer networks of more than a dozen major American and international corporations. Indictments were announced today in Newark, N.J., in what prosecutors are calling the largest hacking and data breach scheme ever prosecuted in the United States. The hackers allegedly acquired more than 160 million credit and debit card numbers from 2005 to 2012 and sold them to resellers around the world.

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