Dow Hamstrung by Europe... Again!

For the third trading day in a row, Europe's troubles are scaring investors away from the stock market and into the safety of United States Treasuries, as the 10-year yield retreated further today, dropping below the 1.4% level. The Dow Jones Industrials (INDEX: ^DJI  ) are down 1.48% after Greece reported it is unable to pay off its debts without restructuring the terms, hog-tieing the ECB and other euro members after they provided the country with over $240 billion.

Source: Yahoo! Finance at 2:30 p.m.

Earnings recap
It has been a busy day so far, with quite a few notable earnings releases. Tonight will not disappoint, as Apple, TripAdvisor, and Netflix are reporting.

In the Dow, AT&T announced a solid second quarter with profits of $3.9 billion and EPS of $0.66, beating analyst estimates by $0.03 as the wireless division buoyed the company with record margins of 30.3%. After climbing before the markets opened, AT&T has been on steep decline, down 3.02%. DuPont narrowly beat on EPS, but full-year numbers are not looking promising, as forecasts are heading toward the bottom of the 2012 range.

Under Armour (NYSE: UA  ) is soaring today, up 8% after reporting EPS of $0.05 and boosting its full-year forecast from $1.78 billion-$1.80 billion up to $1.80 billion-$1.82 billion. Footwear sales increased 44% last quarter, strengthening the bottom line. Baidu (Nasdaq: BIDU  ) is up 8.5% after crushing quarterly expectations yesterday, recording a profit increase of 70%. The mega Chinese search engine is still early in its growth stage as it continues to tackle the growing mobile contingent in China.

On the flip side, Peabody Energy (NYSE: BTU  ) is down 10% on the day after the coal company fell short on revenue and earnings. The entire coal industry has taken a beating over the past year as cheap natural gas has been substituted for coal in electrical generation. To combat natural gas prices, Peabody partnered with Kinder Morgan Partners (NYSE: KMP  ) to export coal to more lucrative areas in Asia.

Long-term thinking
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