That didn't take long.
After opening slightly higher, the market's major gauges quickly reversed course and within roughly 10 minutes after the opening bell, all the widely watched averages were in negative territory.
Dow Jones Industrial Average
was down 45 to 10,418. The
was down 6 to 1317.
Nasdaq Composite Index
was down 23 to 2499. The
was down fractionally at 418.
TheStreet.com Internet Sector
index was down 6 to 672, while
, an index component, bucked the trend and soared. It was up 18 1/8, or 11%, to 182 1/8 after
Donaldson Lufkin & Jenrette
analyst Jamie Kiggen upgraded the stock to top pick from buy. Kiggen also raised his six-to-12-month price target on the stock to $280 from $190.
TheStreet.com E-Commerce Index
was down 1 to 133.
The 30-year Treasury bond was down 9/32 to 95 22/32, yielding 5.55%.
Most Up at Open -- NYSE
Eastman Kodak (EK) , up 3 13/16 to 70 3/8
: The company posted first-quarter earnings of 80 cents a share, excluding a charge, beating the
11-analyst estimate of 76 cents, and up from the year-ago 73 cents, which excludes a charge. Kodak posted first-quarter sales of $3.1 billion, up 6% from the year-ago period. Strong volume gains for consumer film in the U.S. and worldwide and a return to sales growth in a number of emerging markets boosted sales, Kodak said.
Morgan Stanley Dean Witter
upgraded Kodak to outperform from neutral.
Most Up at Open -- Nasdaq
Most Down at Open -- NYSE
National Discount Brokers (NDB) , down 2 7/16 to 53 1/16
Most Down at Open -- Nasdaq