Dow -2.39 at 12434.73, Nasdaq +7.50 at 2770.32, S&P +1.47 at 1310.34

While the broader market is flat, there are several individual stocks making big moves. Google (GOOG) is +12.0% after reporting strong earnings. Specifically, Google reported Q2 EPS of $8.74 per share, excluding non-recurring items, $0.91 better than the Capital IQ Consensus Estimate of $7.83; net revenues (subtracting traffic acquisition costs -- TAC) rose 36% YoY to $6.92 billion versus the $6.55 billion consensus.
Citigroup (C) is +0.9% after reporting EPS of $1.09 per share, vs. the Capital IQ Consensus Estimate of $0.96; revenues rose 4.5% year/year to $20.62 billion vs the $19.76 billion consensus; the call starts at 11:00 ET.
Petrohawk Energy (HK), is +62.7% on reports indicating that BHP Billiton (BHP) will acquire the company for $38.75/share, representing a 65% premium to yesterday's closing price. Petrohawk Energy is an oil and gas E&P name with exposure to the Haynesville Shale, the Eagle Ford Shale, and the Midland and Delaware Basins. These reports have caused related names to move sharply higher in early trade as market participants readjust valuations based on this potential takeout.
Clorox (CLX) is +6.8% after confirming that it has received an unsolicited conditional proposal from Icahn Enterprises to acquire the co for $76.50 per share, subject to due diligence, financing and other conditions. Clorox's board of directors, in consultation with its financial and legal advisers, will review the proposal in due course.