Poor results from Micron Technology (NYSE: MU) and Oracle (NASDAQ: ORCL) combined with new concerns about European debt defaults has the Standard & Poor 500 down in double digits, close to a 1% decline.  Slightly better economic data from the U.S. Department of Commerce in GDP and durable goods orders has consumer stocks up slightly.

Down by almost 12% was Micron Technology (NYSE: MU).  Profits of only 7 cents a share were reported when 16 cents a share was the analyst community target.  Micron Technology is now trading around $7.30, more than $1.10 off for the morning session.  Techs also falling with Micron include Sandisk (NASDAQ: SDNK) at over 5% lower, more than $2.20 a share, to move under $40.70 a share.  Oracle (NASDAQ: ORCL), which reported tepid hardware sales, was down about $1.30 a share in the morning session, trading around $31.13, a more than 4% decline.

Rising against the tech sector woes was Juniper Networks (NYSE: JNPR).  A leading provider of networking solutions and infrastructure products for businesses, Juniper just announced a multibillion contract with Hess Corporation (NYSE: HES).  Up over 70 cents in morning session action, JNPR is around $31.00, about a 2.4% gain.

Jumping more than 2% in early trading was Centerpoint Energy (NYSE: CNP).  At over $19 a share, Centerpoint Energy is higher by almost 40 cents.   Centerpoint Energy is up more than 21% for the year.

Joining Juniper Networks and Centerpoint Energy in heading north after the opening bell is Newell Rubbermaid (NYSE: NWL), up almost 2%, better than 30 cents, to over $15.60.  Lower oil prices will help improve margins for Rubbermaid.  Better economic data will also lead to more consumer spending for the household items that Rubbermaid produces.

Jonathan Yates does not own any of these stocks.