Yahoo rose following news that the Internet company extended a guaranteed revenue-per-search guarantee with Microsoft. The search company also reported results of its stake in Chinese e-commerce company Alibaba, which saw its revenue grow about 80-percent year-over-year to $1.84 billion, according to an SEC filing
Radian Group climbed after the company reported that delinquencies on loans carrying Radian Guaranty mortgage insurance fell in April continuing a recent trend.
Baxter International was lower after the drug company said it would stop late-state studies of an Alzheimer's drug.
First Solar was the worst performer on the S&P 500 after the solar company posted earnings that disappointed investors.
Fossil was the best performer after the company posted better-than-expected earnings.
On the Dow, Microsoft was the weakest link after the tech giant announced plans to update its Windows 8 platform. In an interview on CNBC, former Medtronic CEO Bill George called for change at the top saying the software giant has "been a day late and a dollar short."
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Lori Spechler
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