Last Updated: January 27th, 2009: 11:50 AM ET---In a choppy session of trade, the major US equity indices are sporting moderate gains as investors weigh the morning's mixed earnings results with further disappointing economic data, including a historically low reading on consumer confidence. Dow component DuPont (NYSE:DD) announced Tuesday morning that it swung to a fourth-quarter net loss of $629 million, or 70 cents per share, versus a profit of $545 million, or 60 cents per share in the year-ago period. However, ex-items, the loss would have only been 28 cents, still missing estimates of 20 cents per share. The chemical giant also said it was cutting its '09 guidance to a range of $2 and $2.50 per share, down from its previously given outlook range of $2.25 and $2.75 per share. Analysts had been expecting $2.22 per share in 2009. Verizon Communications (NYSE:VZ) reported a 15% increase in its fourth-quarter profit, printing at $1.24 billion, or 43 cents per share, up from $1.07 billion or 37 cents per share. Excluding one-time items like restructuring costs, earnings were 61 cents per share, in-line with analysts' estimates. The materials sector showed some surprising quarterly results, especially since analysts have cut estimates drastically after extraordinary declines in commodity prices, with AK Steel (NYSE:AKS), US Steel (NYSE:X) and Nucor Corp. (NYSE:NUE) all reporting before Tuesday's open. AK Steel (NYSE:AKS) swung to quarterly loss of $430.6 million, or $3.88 per share, versus a profit of $106.7 million, or 95 cents per share a year-earlier. However, excluding its pension charge, the company earned $600,000. Meanwhile, shares of US steel (NYSE:X) jumped after the Pittsburgh-based steel giant said its fourth-quarter profit soared to $308 million, or $2.65 per share following a one-time gain. The same quarter last year, US Steel posted earnings of $35 million, or 29 cents per share, but these results also included a nonrecurring item that resulted in a charge of $117 million or 98 cents per share. Ex-items, US Steel said it would have earned $2 per share, well above estimates of 71 cents per share. Nucor Corp. (NYSE:NUE) reported a 71% year-over-year decline in its quarterly profit, printing at $105.9 million, or 34 cents per share, down from the previous year's $364.8 million or $1.26 per share. Texas Instruments (NYSE:TXN) announced it would cut 3,400 jobs, meanwhile IBM (NYSE:IBM) cut 2,800 positions in its sales department last week. After reporting a disappointing profit that missed estimates by 7 cents, Corning (NYSE:GLW) announced that it will reduce its workforce by 3,500, which is roughly 13% of its total payroll in an effort to cope with deteriorating demand for flat screen TVs. At the time of this report, the Dow Jones Industrial Average is up 39 points to 8,155, the S&P 500 is trading 8 points higher to 844 and the Nasdaq is trading 11 points higher to 1,500.

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