Key Takeaways

• U.S. equities were mixed at midday with the tech sector getting a big boost from Netflix, which reported strong quarterly earnings.

• Intel shares advanced on a report it was looking for an investor to take a multi-billion-dollar stake in its Altera business.

• CVS Health ousted its CEO and lowered its guidance as the struggling pharmacy and health care chain faces higher medical costs and lower government reimbursements.

U.S. equities were mixed at midday as tech stocks got a boost from strong earnings from Netflix (NFLX). The S&P 500 and Nasdaq rose, while the Dow Jones Industrial Average edged lower.

Netflix shares traded at an all-time high after the biggest streaming service reported better-than-expected results on strong demand for its ad-supported offering.

Shares of Intuitive Surgical (ISRG) also hit an all-time high Friday, a day after the medical device maker beat profit and sales estimates on strong demand for its da Vinci minimally invasive surgical devices.

Intel (INTC) shares advanced on a report that it is seeking an investor to take a multi-billion-dollar stake in its Altera programmable chipmaking unit.

CVS Health (CVS) was the worst-performing stock in the S&P 500 as the pharmacy chain replaced its CEO and cut its profit forecast on higher medical costs and lower Medicare and Medicaid reimbursements.

Shares of Fifth Third Bancorp (FITB) dropped after the bank reported a decline in earnings as net interest income (NII) and noninterest income fell, and it boosted its provision for credit losses.

American Express (AXP) shares slid as the financial services firm's revenue missed forecasts.

Oil futures were little changed. Gold prices hit another record high. The yield on the 10-year Treasury note edged lower. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded higher.

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