Dow Claws Way to Record

Aside from Yahoo!, another stock that finished lower was IBM (IBM Quote), who said first-quarter profits met estimates as revenue rose 7%. However, IBM was downgraded by Goldman Sachs and Credit Suisse, and the stock lost $2.32, or 2.4%, to $94.80.

Providing something of an offset was Intel (INTC Quote), whose shares rose 37 cents, or 1.8%, to $21.35 after its own quarterly numbers. Both IBM and Intel are in the Dow.

As a new day dawned, the earnings parade continued to gather steam. Among them, Motorola's (MOT Quote) first quarter was in line with expectations, but the company warned that its current quarter results could fall short of the consensus target. Still, shares added 27 cents, or 1.5%, to $18.22.

Other reporters included The Bank of New York (BK Quote), whose adjusted first-quarter earnings of 59 cents a share beat estimates by 2 cents. Netflix (NFLX Quote) missed targets by 2 cents a share and offered weaker-than-expected guidance.

Shares of The Bank of New York slipped 12 cents, or 0.3%, to $41.45. Netflix tumbled $2.26, or 9.4%, to end the day at $21.70.

Away from stocks, Treasuries were on the rise. The 10-year note was up 7/32 in price, yielding 4.65%, and the 30-year bond was ahead by 16/32, yielding 4.81%. The dollar continued to soften against the euro and the yen.