Midday Report: Mixed Start to Week Ahead of Earnings Rush; Morgan Stanley Backs Apple

Stocks were mixed in a quieter session ahead of a rush of earnings in the coming days. Earnings coming down the pipeline this week include Netflix (NFLX) - Get Report , Bank of America (BAC) - Get Report , IBM (IBM) - Get Report , Microsoft (MSFT) - Get Report , Snap (SNAP) - Get Report and Goldman Sachs (GS) - Get Report . Apple (AAPL) - Get Report rose after Morgan Stanley upped its price target on long-term optimism after the company reports in August. The firm believes the company will provide weaker fourth-quarter guidance than anticipated on delays in the launch of its new iPhone model. That should set up for a "much better-than-normal December and March quarter." FedEx (FDX) - Get Report announced that it was still assessing the damage of a recent cyberattack, though did say the impact "will be material." FedEx disclosed that the global operations of TNT Express had been infected by a virus back in June. Blue Apron (APRN) - Get Report slumped after Amazon (AMZN) - Get Report filed a trademark for a similar service. Blue Apron, a meal-kit delivery company, has tumbled below its IPO price of $10 since its public float in late June.

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