CNBC's Rebecca Jarvis - Mixed earnings limited the market homing modest gains here in the US, shares of Boeing soaring after the company posted better than expected 1st quarter earnings. Multiple delays on the company’s 787 Dreamliner had made investors nervous but strong results from the aerial space giant’s Commercial Airline and Defense business, helped growth income by almost 40%.

Picture is not so rosy for a couple of airline companies, Delta and Northwest reported combined losses of nearly USD 11 billion, in the first quarter,  the two airliners which are set to merge this year said steep run ups in the cost of fuel cut into their profits.

Oil futures for June delivery sold 23 cents higher at USD 118.30/bbl after Sesa trading in New York, and GE, the parent company of NBC is announcing, it plans to cut another USD 1 billion in costs.

After the bell, earnings from Amazon and Starbucks, Amazon reporting first quarter results well projecting a drop in operating income in the months ahead, Starbucks warning a weaker than expected second quarter results due to weak consumer spending.