1:15 PM New York – U.S. stocks were mixed at the open as Wall Street weighs lower oil prices with a slew of quarterly financial reports that show the economy is still under pressure.

Dow Jones Industrial Average lost 4.64 or 0.05% to 11,598.19 and S&P 500 gained 3.5 or 0.04% to 1,280.50

Stock Movers

Costco Wholesale Corporation the largest U.S. warehouse club chain fell 10% or $7.37 to $64.62 after it lowered earnings guidance below consensus estimate of $1.00 per share. The company blamed the recent price volatility in the oil price on higher charges from inventory accumulated a higher prices. The company also declared quarterly dividend of 16 cents per share.

Costco Wholesale Corporation (COST: chart) in the last one year traded as high as $74.45 in May 2008 and as low as $57.00 in September 2008. Based on the yesterday’s closing price the company has a market cap of $28.00.

Fannie Mae rose 11% to $14.88 as the U.S. lawmakers approve a plan to inject capital in the troubled lender. Fannie Mae (FNM: chart) in the last one year traded as high as $69.23 in August 2007 and as low as $7.07 in July 2008. Based on the yesterday’s closing price the company has a market cap of $15.52 billion.

Infinera Corporation rose by 13% to $10.20 after it reported better than expected earnings for the second quarter in a row. Infinera Corporation (INFN: chart) in the last one year traded as high as $26.66 in October 2007 and as low as $ 8.81 in January 2008. Based on the yesterday’s closing price the company has a market cap of $1.02 billion.

S&P Movers

Of the stocks in S&P 500 index, 230 increased 266 declined and 4 remained unchanged.

CH Robinson led the decliners in the S&P 500 index with a loss of 14.89% or $8.75, to $50.00 followed by in losses in Costco Wholesale of 12.22% or $8.80, to $63.20, in E* Trade Financial of 8.89% or $0.36, to $3.69, in Zimmer Holdings of 8.01% or $5.67, to $65.21 and in Unisys Corp of 6.70% or $0.28, to $3.90.

Fannie Mae led the gainers in the S&P 500 index with a rise of 15.96% or $2.14, to $15.55 followed by increases in Intuitive Surgical Inc of 15.18% or $42.55, to $322.78, in Regions Financial of 13.25% or $1.51, to $12.91, in Whirlpool Corporation of 12.81% or $8.73 to $76.88. National City Corporation of 10.98% or $0.48 to $4.85.

Dow Gainers & Losers

Of the 30 stocks in Dow Jones Industrial Average 15 stocks gained and 15 declined.

Boeing Co led the decliners in the Dow Jones Industrial Average with a loss of 3.19% or $2.21, to $67.05 followed by losses in Wal-Mart Stores of 2.59% or $1.53, to $57.53, in Caterpillar Incorporated of 2.04% or $1.53, to $73.45, in McDonalds Corporation of 1.80% or $1.08, to $59.04, and in Alcoa Incorporated of 1.71% or $0.82, to $33.30.

General Motors led the gainers in the Dow Jones Industrial Average index with a rise of 3.63% or $0.52, to $14.84 followed by increases in Pfizer Incorporated of 2.34% or $0.43, to $18.78, in AT & T Incorporated of 2.04% or $0.65, to $32.47, in America International Group of 1.88% or $0.53 to $28.67 and in Home Depot Incorporated of 1.21% or $0.29 to $24.24.