the republic logo

A six-day advance on the stock market peters out as some US company earnings disappoint

Share/Save/Bookmark

NEW YORK — The stock market is closing slightly lower as several U.S. companies report disappointing earnings.

The decline broke a six-day winning streak.

Intuitive Surgical dropped 12 percent. The company sold only half has many surgical robots in the last quarter as it did a year ago.

PHOTO: Specialist Michael Pistillo works on the floor of the New York Stock Exchange Wednesday, April 23, 2014. The stock market slipped Wednesday after rallying for six straight days as investors worked through another round of quarterly earnings reports from U.S. companies. (AP Photo/Richard Drew)
Specialist Michael Pistillo works on the floor of the New York Stock Exchange Wednesday, April 23, 2014. The stock market slipped Wednesday after rallying for six straight days as investors worked through another round of quarterly earnings reports from U.S. companies. (AP Photo/Richard Drew)

Avery Dennison, Amgen and Norfolk Southern also fell after reporting their results.

Not all the earnings news was bad. Delta Air Lines rose 6 percent after its first-quarter earnings climbed.

The Standard & Poor's 500 index fell four points, or 0.2 percent, to close at 1,875 Wednesday.

The Dow Jones industrial average lost 12 points, or 0.1 percent, to 16,501. The Nasdaq composite fell 34 points, or 0.8 percent, to 4,126.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.69 percent.

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.