NEW YORK (AP) — The stock market is opening mixed after climbing to record highs last week.

Merck pulled the Dow Jones industrial average slightly lower after reporting a 35 percent plunge in profits because of competition from generic drugs.

The Dow was down 11 points, or 0.1 percent, at 15,559 after the first few minutes of trading Monday.

The Standard & Poor's 500 index was flat at 1,760.

The Nasdaq composite was up less than a point at 3,944.

Merck fell $1.09, or 2.3 percent, to $45.46.

Apple reports its latest results after trading closes. Many industry watchers expect the company to report its third straight decline in quarterly earnings. Apple was little changed in early trading at $525.29.