Midday Report: Mixed Start to Week Ahead of Earnings Rush; Morgan Stanley Backs Apple

Summary: Stocks were mixed in a quieter session ahead of a rush of earnings in the coming days. Earnings coming down the pipeline this week include Netflix , Bank of America , IBM , Microsoft , Snap and Goldman Sachs . Apple rose after Morgan Stanley upped its price target on long-term optimism after the company reports in August. The firm believes the company will provide weaker fourth-quarter guidance than anticipated on delays in the launch of its new iPhone model. That should set up for a "much better-than-normal December and March quarter." FedEx announced that it was still assessing the damage of a recent cyberattack, though did say the impact "will be material." FedEx disclosed that the global operations of TNT Express had been infected by a virus back in June. Blue Apron slumped after Amazon filed a trademark for a similar service. Blue Apron, a meal-kit delivery company, has tumbled below its IPO price of $10 since its public float in late June.