Mid-Morning Market Update: Markets Open Lower; Time Warner Earnings Beat Street View

Following the market opening Wednesday, the Dow traded down 0.38 percent to 15,385.97 while the NASDAQ tumbled 0.86 percent to 3,996.93. The S&P also fell, dropping 0.59 percent to 1,744.85. Top Headline Time Warner (NYSE: TWX ) reported a 12% drop in its fourth-quarter profit. Time Warner's quarterly profit