Arab Today, arab today us stocks drop on cyprus weak earnings
Last Updated : GMT 10:36:50
Arab Today, arab today
Arab Today, arab today

US stocks drop on Cyprus, weak earnings

Arab Today, arab today

Arab Today, arab today US stocks drop on Cyprus, weak earnings

New York - AFP

US stocks fell Thursday, hit by uncertainty over the Cyprus banking crisis and some surprisingly weak corporate earnings. The Dow Jones Industrial Average lost 90.24 points (0.62 percent) to 14,421.49. The broad-based S&P 500 dropped 12.91 (0.83 percent) to 1,545.80, while the tech-rich Nasdaq Composite Index gave up 31.59 (0.97 percent) to 3,222.60. The retreat came after the European Central Bank said it would halt emergency funding to Cyprus\' banks unless the country reaches a bailout deal by Monday. The Cyprus crisis has revived concerns about eurozone stability. Markets were also troubled by a weak earnings report from technology company Oracle. That came a day after FedEx disappointed investors, announcing that its quarterly earnings were hit by poor international results. \"The market caved in over corporate news and Cyprus,\" said Peter Cardillo of Rockwell Global Capital. Most of the blue-chip members of the Dow ended the day in the red. Trading was hard on banks like Bank of America and JP Morgan, both losing 1.6 percent. The Dow\'s technology companies also lost on the day. Cisco gave up 3.8 percent, IBM retreated 1.3 percent and Hewlett-Packard dropped 2.6 percent. Oracle shares sank 9.7 percent after its earnings missed analyst expectations. The results showed weak sales of software licenses and cloud computing subscriptions. Global package delivery giant FedEx dropped 2.7 percent, one day after slashing its profit guidance for fiscal 2013. Lululemon Athletica, which markets sports clothing for women, rose 1.3 percent after it beat fiscal fourth-quarter earnings forecasts. The Canadian company estimated that it lost $12-$17 million in revenue in the current quarter due to a recall of too-sheer yoga pants. Homebuilder KB Home rose 2.5 percent after reporting a big jump in revenues thanks to an increase in the number of homes delivered and a higher average selling price. Bond prices declined. The yield on the 10-year Treasury rose to 2.0 percent from 1.94 percent late Wednesday, while the 30-year jumped to 3.23 percent from 3.17 percent. Bond prices move inversely to yields.

arabstoday
arabstoday

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks drop on cyprus weak earnings Arab Today, arab today us stocks drop on cyprus weak earnings

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks drop on cyprus weak earnings Arab Today, arab today us stocks drop on cyprus weak earnings

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday