Arab Today, arab today us stocks end lower on mixed earnings
Last Updated : GMT 07:48:44
Arab Today, arab today
Arab Today, arab today

US stocks end lower on mixed earnings

Arab Today, arab today

Arab Today, arab today US stocks end lower on mixed earnings

Dow Jones Industrial Average ended down 48.50 points
New York - AFP

Wall Street stocks finished solidly lower Wednesday following mixed earnings that included strong results from General Motors and disappointing figures from Yahoo.

After a volatile session, the Dow Jones Industrial Average ended down 48.50 points (0.28 percent) to 17,168.61.

The broad-based S&P 500 fell 11.83 (0.58 percent) to 2,018.94, while the tech-rich Nasdaq Composite Index dropped 40.85 (0.84 percent) to 4,840.12.

Sam Stovall, equity strategist at S&P Capital IQ, said third-quarter earnings are coming in slightly better than expected, with analysts now projecting a 4.8 percent decline in profits compared with an earlier forecast for 5.2 percent fall.

"After jumping nearly 9 percent since the August 25th closing low, the S&P 500 is taking some much-needed rest," Stovall said.

GM climbed 5.8 percent after third-quarter net income translated to $1.50 per share, much above the $1.19 forecast by analysts.

Yahoo fell 5.2 percent as the technology company reported net income at 15 cents per share, two cents below analyst expectations.

Flash memory specialist SanDisk rose 2.1 percent on news it will be acquired by Western Digital for $19 billion. Western Digital fell 4.6 percent.

Data storage company EMC fell 6.2 percent after reporting that third quarter net income fell 15.8 percent to $528 million. Privately-held Dell has announced plans to buy EMC for $67 billion.

Other companies to report earnings included Biogen (+4.0 percent), Boeing (+1.7 percent), Chipotle Mexican Grill (-5.7 percent) and Coca-Cola (-0.2 percent).

Valeant Pharmaceuticals International dived 19.2 percent after a report from Citron Research accused the company of inflating its sales figures. Valeant said the allegations of fraudulent behavior were "erroneous."

Endo International, another pharma company that, like Valeant, has grown via acquisitions, fell 13.3 percent.

Italian supercar maker Ferrari finished at $55 per share in its first trade in the New York Stock Exchange, up 5.8 percent from its initial public offering price of $52.

Petroleum producers fell as oil prices retreated. Dow member ExxonMobil lost 0.8 percent, Apache shed 1.8 percent and Devon Energy lost 3.9 percent.

Bond prices rose. The yield on the 10-year US Treasury fell to 2.03 percent from 2.07 percent Tuesday, while the 30-year declined to 2.87 percent from 2.92 percent. Bond prices and yields move inversely.

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 end lower on mixed earnings Arab Today, arab today us stocks end lower on mixed earnings

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
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