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Updated from 8:58 a.m. EDT

(At 4:32 p.m. EDT)

Uneven Finish Tuesday

Stocks finished mixed Tuesday, which some market analysts count as a win for bulls. The major averages are up more than 35% since the March lows, and the last thing bulls wanted to see what two consecutive days of selling pressure.

Instead, we got a day of healthy profit taking in select sectors that have outperformed over the last few weeks, namely bank stocks and tech names.


(AAPL) - Get Apple Inc. Report

, for instance, finished 4% lower without any specific news or rumors.

Bank of America

(BAC) - Get Bank of America Corp Report

raised $7.3 billion from the sale of its stake in

China Construction Bank

, yet still lost ground for the day.

Ultimately, we ended up with a flat day for the

S&P 500

and a small gain on the


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, which is a welcome sight, even if the


faltered a bit.

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The tech sector could be in for a better day Wednesday after going


(INTC) - Get Intel Corporation Report

CEO told an investor conference that the second quarter has been "better than expected." Shares of the chipmaker were up more than 3% in the after-market session.

Of course, the European Union is set to levy a hefty fine against Intel tomorrow, according to reports.

Advanced Micro Devices

(AMD) - Get Advanced Micro Devices, Inc. Report

alleged that Intel allegedly paid computer makers rebates to keep their usage of AMD chips down and by selling chips below cost to thwart AMD from taking key accounts.

On the other hand, tech stocks won't get much help Wednesday from

Applied Material

(AMAT) - Get Applied Materials, Inc. Report

, which posted

second-quarter results after Tuesday's closing bell

. The chip-equipment maker said it lost 10 cents a share on an adjusted basis, matching forecasts, while revenue plunged 53% from the year-ago quarter to just over $1 billion.

Applied Materials said its backlog was almost a billion dollars worse than a year ago, while new orders fell 73% from a year ago to $649 million. Neither is a welcome sign for those looking for a quick recovery for chip-equipment makers.


Freddie Mac


reported a first-quarter loss that ballooned from a year ago as credit losses soared. The mortgage giant also said it needs $6.1 billion in additional government aid.

Looking To Wednesday

The flow of economic reports accelerates Wednesday and will certainly influence trading. The April report on import and export prices and retail sales data for April due out before the start of trading. Business inventories data for March will come at 10 a.m. EDT, and weekly crude inventory levels will be reported by the Energy Department at 10:30 a.m. EDT.

Last week, the monthly same-store sales data from retailers wasn't completely terrible --


(WMT) - Get Walmart Inc. Report

, for instance, reported a better-than-expected 5% rise - so the April read on retail sales might garner the most attention. Given the recent trouble for automakers, the number that excludes auto sales will be the more closely-watched figure.

Meanwhile, Treasury Secretary Timothy Geithner is set to speak Wednesday before the Independent Community Bankers of America Washington Policy Summit in Washington at 9 a.m. EDT.

Wednesday will also bring quarterly results from


(M) - Get Macy's Inc Report


Whole Foods



Dr. Pepper Snapple



(At 8:34 a.m. EDT)

Early Headlines

Bank of America

(BAC) - Get Bank of America Corp Report

raised $7.3 billion from the sale of its stake in

China Construction Bank

, according to reports. A consortium that includes Temasek Holdings, Hopu Investment Management and China Life Insurance purchased the shares for a discount from

China Construction Bank's

close on Monday, the

Wall Street Journal



reported, citing people familiar with the matter.

BofA shares were up 2.5% in the premarket session to $13.26.

Bank of New York Mellon

(BK) - Get Bank of New York Mellon Corporation Report

became the latest bank to announce a common stock offering in order to repay funds borrowed from the Troubled Asset Relief Program. The bank will offer $1 billion in common shares, it said Tuesday. The dilutive effect had shares trading 1.5% lower ahead of Tuesday's session.

On Monday,

U.S. Bancorp

(USB) - Get U.S. Bancorp Report



(KEY) - Get KeyCorp Report


Capital One Financial

(COF) - Get Capital One Financial Corporation Report

, and

BB&T Corp.

(BBT) - Get BB&T Corporation Report

each announced stock sales.

Banks aren't the only companies issuing new shares.


(F) - Get Ford Motor Company Report

said late Monday that it will offer 300 million shares in new common stock in order to raise $2 billion to help fund its retiree health care trust. The automaker was losing 4.1% in the premarket session.



(MSFT) - Get Microsoft Corporation Report

announced its first bond sale as the tech giant looks to raise $3.75 billion, which will be used for general corporate purposes, including possible acquisitions and stock buybacks. Shares were up 1.2% in premarket trading.

In other bank news,


(C) - Get Citigroup Inc. Report

said that the $45 billion in government capital it has borrowed has been used to make nearly that much in new loans. Shares were up 2.3% to $3.94 in the premarket session.

Earnings and Economic Reports

In the lone report out before Tuesday's open, the trade deficit rose to $27.6 billion in March from $26.1 billion in February. March's read is less than economists' forecasts of $29 billion.

On the earnings front,


(MBI) - Get MBIA Inc. Report

shares were surging more than 10% ahead of Monday's open after the company reported earnings late Monday that handily beat expectations.




reported a

narrower-than-expected loss for the fiscal year

ended March 31 of 233.7 billion ($2.4 billion), and said losses will continue as it expects next year to remain "challenging."