US stocks were mixed on Wednesday as oil prices retreated from new all-time highs reached in the early morning. Crude futures closed back under $40 per barrel. News reports suggest OPEC make a determined effort to push oil prices lower over the next few weeks.
Coca-Cola Co. (KO) and Boeing (BA) lead the Dow higher. Boeing touched a new 52-week high and Coca-Cola rose to a six-week high on solid volume.
Xilinx (XLNX) fell after the company provided a mid-quarter update. Investors sold after the company reiterated revenue guidance for its fiscal first quarter. The Street was expecting bullish guidance. Intel (INTC) shares were weaker ahead of its mid-quarter update due today.
Fairchild Semiconductor (FCS) fell sharply after it said unpredictable customer orders might prevent it from meeting its sales forecast this quarter.
Allos Therapeutics (ALTH) rocketed after it received an "approvable" letter from the Food and Drug Administration for its therapy for people suffering brain metastases.
American Eagle Outfitters (AEOS) reported May same store sales increased 10.6% year-over-year. The company currently expects Q2 earnings to be in the range of $0.26-0.28 per share.
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