NEW YORK (TheStreet) -- Stocks were mixed by mid-morning Tuesday after data showed U.S. manufacturing growth at its slowest in nearly two years.
The S&P 500 was flat, the Dow Jones Industrial Average climbed 0.13%, and the Nasdaq was down 0.17%.
U.S. manufacturing growth slowed again in June for the third straight month, falling to its slowest pace since October 2013, according to the Markit PMI Manufacturing Index. The survey fell to 53.4 in June, down from a May reading of 54. Economists had expected the measure to increase to 54.2.
New home sales in May increased 2.2% to an annual rate of 546,000, its fastest pace since February 2008. The reading was a touch higher than estimates of a 545,000 annual rate. The median home price was down 1% from a year ago to $282,800.
Durable goods orders in May fell 1.8%, weighed on by a 35.3% month-on-month slide in the volatile commercial aircraft component. April's reading was revised down to a 1.5% decline from a previous 1% drop. Excluding transportation, the measure climbed 0.5%, above estimates of a 0.3% slip.
"The downward revisions to April's estimates suggest that there was a much weaker start to investment activity this quarter and despite the small rebound in May's investment activity the contribution to GDP this quarter from investment activity will remain quite modest at best," said Millan Mulraine, deputy head of U.S. strategy at TD Securities.
Eurozone finance ministers reacted positively to new proposed reforms submitted by the Greek government in a meeting on Monday. Among the reforms reported, though not confirmed, Greece will eliminate early retirement benefits, cut defense spending and increase corporate tax rates. Eurozone leaders will meet again at the end of the week. Talks have escalated as Greece faces a crucial repayment to the International Monetary Fund by the end of the month.
Verizon (VZ) announced on Tuesday that it had completed its acquisition of AOL for $50 a share. AOL shares are no longer being traded on the New York Stock Exchange.
3M (MMM) agreed to buy harness and safety equipment manufacturer Capital Safety from KKR & Co. The deal is worth $2.5 billion, including debt.
Carnival (CCL) shares were on watch after the cruiseliner reported second-quarter earnings of 25 cents a share, 9 cents above estimates. Revenue of $3.6 billion fell 0.8% from a year earlier, though came in $40 million above expectations.
BlackBerry (BBRY) shares slid 1.4% after missing analysts' quarterly estimates. The company posted a fiscal first-quarter loss of 5 cents a share, 2 cents narrower than expected, while revenue of $658 million dropped nearly 32% from a year earlier and missed estimates by more than $25 million.
Darden Restaurants (DRI) added more than 3% on news the company will transfer 430 company-owned restaurants to a real estate investment trust.
Facebook (FB) is now worth more than Wal-Mart (WMT) just three years after going public. A surge in share price over the last year has added more than $65 billion to Facebook's market value to bring its total to more than $238 billion. Wal-Mart is worth $235 billion. Click here for more.
Syngenta (SYT) made clear it will not entertain acquisition offers that undervalue the company. In a YouTube video, Syngenta Chairman Michel Demare said a "serious proposal" would need to be "made at full and fair value." Syngenta recently rejected a $45 billion offer from Monsanto (MON).
Sonic (SONC) fell nearly 12% after reporting an in-line third quarter and weaker comparable-store sales. The restaurant chain reported same-store sales rose 6.1% in the third quarter, affected by harsh weather in some of its regional operations.
Stocks rose on Monday as the prospect of a Greek debt deal finally looked like a possibility. That helped the S&P 500 and Dow Jones Industrial Average to close with robust gains and the Nasdaq to notch a new record close. Click here for more.