Wednesday, 23 July 2014

US stocks mixed as earnings reports roll in


Stock indexes were little changed in early trading Wednesday as mostly positive earnings in the technology sector were outweighed by disappointing news out of aircraft giant Boeing.


KEEPING SCORE: The Dow Jones industrial average fell 30 points, or 0.2 percent, to 17,078 as of 10:07 a.m. Eastern. The Standard & Poor's 500 index rose less than a point to 1,983 and the Nasdaq composite rose six points, or 0.1 percent, to 4,462.


BIG TECH: Apple reported higher quarterly profits after the market closed Tuesday, topping analysts' estimates. Sales of iPads slipped, but iPhone shipments increased 13 percent over a year earlier. Apple rose 83 cents, or 1 percent, to $95.56.


NEED A REPAIR MAN: Appliance maker Whirlpool fell $7.37, or 5 percent, to $135.70 after the company's earnings came in well short of analysts expectations. The company reported an adjusted profit of $2.62 per share compared with the $2.88 expected by analysts,


NO LIFT: Boeing reported a 52 percent jump in quarterly profits, but still investors weren't impressed. Boeing lost fell $3.18, or 2.5 percent, to $126.55, the biggest decline in the Dow.


BONDS AND OIL: Prices for U.S. government bonds rose. The yield on the 10-year Treasury note dipped to 2.45 percent from 2.47 percent late Tuesday. Benchmark U.S. crude oil rose 16 cents to $102.55 a barrel.



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