US stocks little changed at midday amid earnings reports

U.S. stocks narrowly fluctuated in the morning session on Tuesday as investors were digesting a batch of corporate earnings reports.

By midday, the Dow Jones Industrial Average fell 12.23 points, or 0.07 percent, to 17,585.97. The S&P 500 edged down 0.80 point, or 0.04 percent, to 2,097.24. The Nasdaq Composite Index lost 7.32 points, or 0.14 percent, to 5,108.06.

Coach Inc. jumped 2.32 percent around midday after reporting better-than-expected quarterly earnings before Tuesday's opening bell.

The luxury accessories maker reported net sales of 1 billion U. S. dollars for its fourth fiscal quarter ending June 27, 2015. Net income for the quarter totaled 85 million dollars, with earnings per diluted share of 0.31 dollar.

CVS Health Corporation posted net revenues of 37.2 billion dollars for the three months ending June 30, 2015, an increase of 7.4 percent from the same period a year ago, roughly in line with market expectations.

Its shares, however, tumbled 3.27 percent around midday on Tuesday as the U.S. drugstore operator gave a soft earnings outlook for its current quarter.

On the economic front, U.S. new orders for manufactured goods in June increased 8.7 billion U.S. dollars or 1.8 percent to 478.5 billion dollars, slightly above market estimates, said the Commerce Department Tuesday. This increase, up following two consecutive monthly decreases, followed a 1.1-percent May decrease.

On Monday, U.S. stocks extended losses amid generally downbeat economic data as plunging oil prices hit Wall Street sentiment.