the republic logo

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

Share/Save/Bookmark

NEW YORK — A six-day rally on the stock market is petering out as some U.S. companies report earnings that disappoint investors.

Norfolk Southern, Procter & Gamble and Avery Dennison all fell after reporting their latest quarterly financial results.

PHOTO: Trader John Bowers works on the floor of the New York Stock Exchange, Tuesday, April 22, 2014. Stocks are moving higher in early trading as investors assess more corporate earnings. Shares were mixed Wednesday April 23, 2014 as weak data from China sapped the upward momentum from an overnight rally on a flurry of deals in the pharmaceutical sector. (AP Photo/Richard Drew)
Trader John Bowers works on the floor of the New York Stock Exchange, Tuesday, April 22, 2014. Stocks are moving higher in early trading as investors assess more corporate earnings. Shares were mixed Wednesday April 23, 2014 as weak data from China sapped the upward momentum from an overnight rally on a flurry of deals in the pharmaceutical sector. (AP Photo/Richard Drew)

Railroad operator Norfolk Southern's profit slumped as severe winter weather slowed shipments, and Procter & Gamble's revenue fell short of what investors were looking for.

The Standard & Poor's 500 index fell three points, or 0.2 percent, to 1,876 in the first few minutes of trading Wednesday.

The Dow Jones industrial average lost 17 points, or 0.1 percent, to 16,496. The Nasdaq composite fell 18 points, or 0.4 percent, to 4,143.

Not all the earnings news was bad. Delta Air Lines rose 5 percent after its first-quarter earnings climbed.

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 This material may not be published, broadcast, rewritten or redistributed.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.