U.S. MARKET AVERAGES

Stock opened mixed, following Fed Reserve’s decision to raise interest rates, disappointing quarterly results from Google and better-than-expected earnings report from Dow component Boeing.

Earnings reports drew back the attention of investors. Google's disappointing Q4 performance raised concerns among investors and in particular, those investing in Internet companies.

Google (GOOG: chart) tumbled 16%, citing a higher-than-expected tax rate as the reason why its profit missed the consensus forecast. UBS lowered its rating on Google to neutral from buy.

Boeing Co. (BA: chart) said Q4 more than doubled earnings of 58 cents a share vs. 23 cents a year ago on 7% revenue growth, exceeding estimates of 44 cents a share. The company also raised its profit outlook for 2006, citing better operating performance.

Among other major companies releasing strong quarterly results, Time Warner Inc. (TWX: chart) posted 21.2% profit rise on strong results from the company's cable TV, movie studios and cable networks businesses, beating estimates. Power company Duke Energy Corp. (DUK: chart) posted a 69% rise in fourth-quarter profit. Tribune Corp (TRB: chart) announced 38% net income drop in Q4 on 4.5% revenue decline, missing estimates.

In economic news, the Institute for Supply Management said manufacturing in January grew at a slower pace than December, economist expectations. The group said deliveries of goods are slowing and prices are increasing.

The HMO space stood out as one of the best performers in the early going with an advance of 1.4% which took the sector to a new high. Molina Healthcare (MOH: chart), which helped lead the group higher on Tuesday, rose by nearly 13% on guidance released after Tuesday''s close.

The airline sector moved to the downside, dragged by JetBlue (JBLU: chart), which fell more than 6% on disappointing quarterly results and guidance. Google''s disappointing quarterly results sent Internet stocks in the negative.

The Dow rose 37.23, or 0.34%. The Standard & Poor's 500 index rose 0.41, or 0.03%, and the Nasdaq composite index fell 5.13, or 0.22%, with Google's decline pushing the tech-dominated index lower.

Bonds fell, with the yield on the 10-year Treasury note rising to 4.54 percent from 4.52% late Tuesday.

MOVERS AND SHAKERS

Monster Worldwide Inc (MNST: chart) said Q4 net income jumped 49% to $36.5 million, or 29 cents a share, from the year-ago quarter, on strong international growth. Sales climbed 24% to $266.6 million. The company said it sees 2006 earnings from continuing operations in the range of $1.21 to $1.26 a share on revenue of $1.165 billion to $1.215 billion. The company’s shares climbed 13.4%.

Jones Lang LaSalle (JLL: chart), real estate and money management services provider, reported Q4 net earnings of $66.9 million, or $2.11 a share, up 34% from $50 million, or $1.62 a share. Revenue rose 21% to $499 million from $412.4 million a year ago, said the real estate and money management services provider. The stock rose 12.5%.

Phoenix Cos (PNX: chart), life insurance and asset management company, posted Q4 profit rise to $50.2 million, or 48 cents a share, from $48.3 million, or 48 cents, a year ago. Total segment income was $27.6 million, or 27 cents a share, up from $26 million, or 26 cents, in last year's fourth quarter, beating estimates of 21 cents a share. The company affirmed its fiscal 2006 view for a double-digit percent gain in earnings growth. The stock gained 4.7%.

PPL Corp (PPL: chart) said Q4 net income rose to $185 million, or 49 cents a share, from $177 million, or 47 cents a share, with revenue up 2.4% to $1.5 billion. Earnings from continuing operations of 53 cents a share topped analyst earnings forecasts of 50 cents a share. PPL confirmed its 2006 guidance of earnings of $2.15 to $2.25 a share and said it expects 11% compound annual earnings per share growth through 2010. The company’s shares rose 3.8%.

SigmaTel Inc (SGTL: chart), semiconductor company, reported Q4 net earnings of $4.65 million, or 12 cents a share, down 76% from $19.5 million, or 52 cents a share, last year. Pro forma net income was $6 million, or 16 cents a share, while revenue rose to $82 million from $78.6 million. Analysts expected earnings of 15 cents a share on revenue of $84 million. The company forecast a Q1 loss of 10 cents to 17 cents a share, or a penny to 8 cents a share on a pro forma basis, on revenue of $52 million to $60 million. The stock slipped 11.5%.

Pixelworx Inc (PXLW: chart), integrated circuits maker, posted Q4 net loss of $35.9 million, or 75 cents a share compared with a profit of $4 million, or 8 cents a share a year ago. Its loss on a pro forma basis was $32 million, or 67 cents a share. Revenue rose to $43.3 million from $38.5 million last year. Pixelworks projected Q1 net loss of 19 cents to 22 cents a share and a pro forma loss of 8 cents to 11 cents a share on revenue of $39 million to $43 million and a net gross profit margin of 40% to 42%. The company’s shares dropped 19.8%.

ECONOMIC NEWS

Crude oil inventories showed an advance in the latest week, according to government statistics released Wednesday, reversing a portion of the previous week's decline. Stocks of gasoline recorded a sharp rise, while inventories of distillate fuel oil ticked down.