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Technology stocks rise on earnings gain from Apple, but broader market is little changed

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NEW YORK — Mixed earnings news from big U.S. companies left investors searching for direction in early trading, leaving major indexes little changed.

Raytheon fell 5 percent after its results for the first quarter came up short of what investors were expecting. 3M fell 2 percent after its earnings disappointed.

PHOTO: FILE - In this Monday, March 3, 2014, file photo, specialist Gregg Maloney works on the floor of the New York Stock Exchange. Global shares were mixed with European shares getting an early boost Thursday, April 24, 2014 but stocks in Tokyo slipped after talks between Japan's prime minister and visiting President Barack Obama failed to finalize a trade agreement. (AP Photo/Richard Drew, File)
FILE - In this Monday, March 3, 2014, file photo, specialist Gregg Maloney works on the floor of the New York Stock Exchange. Global shares were mixed with European shares getting an early boost Thursday, April 24, 2014 but stocks in Tokyo slipped after talks between Japan's prime minister and visiting President Barack Obama failed to finalize a trade agreement. (AP Photo/Richard Drew, File)

There were plenty of bright spots in the earnings news. Apple led a gain in the technology sector after announcing a big earnings gain, a stock split and a dividend increase. Apple rose 8 percent. Caterpillar also rose after its earnings beat analysts' forecasts.

The Standard & Poor's 500 index was unchanged at 1,875 as of 10 a.m. Eastern time Thursday.

The Dow Jones industrial average edged up 21 points to 16,474 and the Nasdaq rose three to 4,130.

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