The Dow Jones Industrial Average (DJINDICES:^DJI) rebounded yesterday in a big way, thanks to strong earnings reports from its components. Today, the Dow is down slightly for the same reason. With some good news and some bad, the component stocks are mixed, leading the index only 23 points lower just before 11:30 a.m. EDT.

The good
Boeing (NYSE:BA) is up this morning following positive earnings results for the first quarter. Earnings grew 20% despite the cost of battery issues for its 787 Dreamliner fleet. Revenue did feel the impact of the Dreamliner problem, however, with a 3% decline compared to the previous year. But Boeing said that the cost of the Dreamliner grounding was offset by higher sales of the very profitable 737 and 777 jets. Cost-cutting helped the company's government-based operations profit even after budget cuts -- with overall operating income growing 5% year over year. Though the company has not disclosed the total cost of the Dreamliner fleet grounding, it has been estimated to reach the hundreds of millions of dollars -- most of which has not been reflected in Boeing's earnings to date. Regardless, the company stated that the costs will not keep it from meeting its core earnings estimates of $6.10 to $6.30 per share.

The bad
Procter & Gamble (NYSE:PG) released earnings this morning that beat earnings estimates but disappointed with a lower-than-expected forecast for full-year earnings. The stock is down 4.65% so far in trading. Though the company was able to increase its current-quarter earnings by 5% compared to the previous year's quarter, it is still trying to find ways to stand out among the crowd, especially with its line of personal care products. While sales of products like Tide detergent pods have increased sales, net sales of hair and skin products both decreased in this most recent quarter. With that trend, the company forecasts EPS of $0.69 to $0.77 -- disappointing the Street, which was expecting $0.81.

The ugly
AT&T (NYSE:T) is also in the dumps this morning after announcing earnings after the bell yesterday. The wireless carrier is down 6.01% so far in trading, the most in almost three years. The company had gained 16% so far this year, but first-quarter results showed a loss of wireless market share to rival Verizon (NYSE:VZ). AT&T added 269,000 new subscribers to its wireless services in the first three months of this year, but the growth was mainly due to new tablet users -- the company actually lost high-paying phone users during that time period. Verizon had substantial growth during the first quarter, with new wireless phone customers driving growth.