NEW YORK (AP) -- Microsoft and IBM drove the Dow Jones industrial average up in Friday morning trading, after the established tech giants reported stronger earnings than analysts had expected. Google plunged on an earnings miss.
The Dow rose 57 points to 12,683, an hour after the opening bell. That's a gain of 0.5 percent. Other indexes were slightly lower.
Microsoft rose 3.4 percent, IBM 3.8 percent. Microsoft said sales of Xbox games and Office software helped push revenue up in the last quarter of 2011. IBM credited better sales of software and services and raised its earnings outlook for the year.
Google lost 7.8 percent after its earnings per share fell a dollar short of analysts' estimates. The misfire stemmed from an 8 percent drop in prices that the Internet search giant charges advertisers for each click.
In other trading, the Standard & Poor's 500 index fell 3 points, or 0.2 percent, to 1,311. The Nasdaq composite fell 4 points, or 0.2 percent, to 2,784.
Concerns about debt talks in Greece hang over the market. Greece is in the middle of talks with creditors to reduce its debts and avoid a default. A deal is necessary to help Greece avoid a default when a €14.5 billion bond repayment comes due in March.
Among other companies in the news:
— GE fell 1 percent after reporting earnings and revenue that fell short of estimates. The sale of GE's majority stake in NBC Universal to Comcast last year hurt the company's results. The conglomerate, whose products include jet engines and light bulbs, also reported slower growth in Europe.
— Schlumberger rose 1.6 percent. The oil-field services company's quarterly profit surged 36 percent, helped by exploration work in the Middle East and Africa. The company also raised its quarterly dividend to 27.5 cents.
All three indexes are on track to end the week with gains. The Dow is up 2 percent and the S&P 500 1.8 percent.
Stocks have been on a slow and steady climb to start 2012. The S&P 500 has closed higher on 10 of 12 days and is up 4.3 percent for the year.