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That was a stark contrast to Tuesday's IPO of fertilizer company Intrepid Potash , which soared 58 percent on its first day on the Big Board. The company raised $960 million with its initial public offering, priced late Monday at $32 a share. The stock trades as "IPI."
Commercial airlines issued dismal quarterly reports.
Delta reported a loss far worse than expected , citing soaring fuel costs. Delta is preparing to merge with Northwest Airlines, which also posted a larger loss than expected.
Internet portal -- and Microsoft target -- Yahoo reported a profit after the bell Tuesday that edged past expectations but analysts said it was unlikely to cause to Microsoft to raise its offer of $31 a share.
Apple ticked higher ahead of earnings from the iPhone and iPod maker, due out after the closing bell. Analysts expect $1.07 a share, according to a survey by Thomson Financial.
More troubles appeared for the housing industry, as an industry group reported a sharp drop in mortgage applications in the face of rising interest rates.
Still to Come:
WEDNESDAY: Crude inventories; earnings from Amazon, Apple and Pulte HomesTHURSDAY: Jobless claims; durable-goods orders; new-home sales; Earnings from Aetna, Bristol-Myers, ConocoPhillips, Motorola, Pepsi, American Express and MicrosoftFRIDAY: Consumer sentiment; earnings from Ericsson, Honda
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