The markets opened flat with the Dow edging up a point to 15,485 while Nasdaq added 3 points to 3610 on disappointing earnings.

On the upside

Bally Technologies (NYSE: BYI) will pay a premium of approximately $1.31 billion in cash to acquire SHFL Entertainment (Nasdaq: SHFL). 

Citigroup upgraded Baidu (Nasdaq: BIDU) from a Sell rating to a Neutral rating. 

Renesola (NYSE: SOL) lifted its second quarter shipment and revenue outlook.

On the downside

Joe’s Jeans (Nasdaq: JOEZ) disappointed with lower second quarter earnings that fell short of analyst expectations and announced plans to buy privately held Hudson Clothing for approximately $97.6 million.

Coco-Cola (NYSE: KO) blamed poor weather and a weak global economy for lower second quarter earnings and revenue.

Second quarter earnings slipped for Charles Schwab (NYSE: SCHW) to fall short of expectations as expenses rose.   

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The broader S&P 500 index eased a fraction to 1681.