U.S. stocks were little changed on Monday, with investors focused on earnings reports, which painted a mixed picture, while merger news strengthened some shares. No. 2 U.S. chicken producer Pilgrim's Pride Corp. rose after it reported better-than-expected earnings, while Xerox Corp. shares slid after the company reported earnings that lagged forecasts. Appliance maker Maytag Corp., a takeover target, rose. The Dow Jones industrial average was up 7.70 points, or 0.07 percent, at 10,658.88. The Standard & Poor's 500 Index was up 0.35 point, or 0.03 percent, at 1,234.03. The technology-laced Nasdaq Composite Index was down 0.49 point, or 0.02 percent, at 2,179.25. "It's almost a boxing match, they're going to respond blow-by-blow to the picture created by the earnings mosaic," said Jim Awad, chairman of New York-based Awad Asset Management. Second-quarter earnings growth among the biggest U.S. companies is outstripping initial expectations and is now forecast to top double digits for the 13th straight quarter, according to Reuters Estimates. Companies due to report on Monday included American Express at midday and Texas Instruments after the bell. In the only economic data due on Monday, the National Association of Realtors said U.S. existing home sales rose to a record 7.33 million annual rate in June, a gain of 2.7 percent. Economists had forecast a rise to 7.15 million units.
