The Standard & Poor’s 500 Index was down about three points to under 1,216 in early Thursday trading. Companies were releasing estimates for the third quarter that were below the record-setting results from the second quarter.

U.S. consumer sentiment is very low, and economic data released this week has not been overwhelming, despite the surges in financial markets at the end of August. Declining and advancing stocks were just about even in morning buying and selling. For the year, the S&P is down about 2.5%. Over the past week, the S&P rose more than 5.7%.

Juniper Networks (NYSE:JNPR) was up almost 80 cents, or 4%, to over $21.90. The entire tech sector was rallying this morning on strong results and rising profits from Ciena. Juniper was upgraded Aug. 23 by Morgan Keegan. Juniper is down for the week, the month, the quarter and the year. It is trading about 10% above its low for the year.

Up more than $1 per share, or more than 3.2%, was Chesapeake Energy (NYSE:CHK) to above $33.70. A potential sale has Chesapeake’s assets in Barnett Shale increasing in value on paper. CHK is up more than 7% for the week and more than 50% for the year.

WellPoint Inc. (NYSE:WLP) gained about $1.70, or 2.7%, to reach around $65 a share. Deal-making in health care continues, with United Health acquiring a California doctor group. This is lifting the health insurance sector and has WellPoint up more than 4% for the week.

Down about 13% was SAIC Inc. (NYSE:SAI), losing about $1.90 per share to $13.10. SAIC was downgraded by Stifel Nicolaus this morning from “buy” to “hold.” SAIC is up more than 4% for the week but down almost 13% for the quarter.

Novellus Systems (NASDAQ:NVLS) was off more than $1 to around $26.90, shedding almost 4%. After the closing bell yesterday, the semiconductor equipment company cut its third-quarter revenue estimates, citing its customers’ “incrementally cautious guidance stance.” Up more than 2% for the week, Novellus is down more than 20% for the quarter.

U.S. Steel (NYSE:X) was down more than 50 cents, almost 2%, to under $29.60 a share. U.S. Steel is up more than 10% for the week but down more than 30% for the quarter. There is a short float of 16.23% for U.S. Steel, which is very high.

Jonathan Yates does not own any of the stocks mentioned in this article.