U.S. stocks end mixed on earnings; Dow slips 0.25%


Investing.com -

Investing.com - U.S. stocks ended Wednesday mixed mainly after technology blue chip IBM disappointed investors with its fourth-quarter earnings in a session largely void of economic indicators.

At the close of U.S. trading, the Dow Jones Industrial Average fell 0.25%, the S&P 500 index rose 0.06%, while the Nasdaq Composite index rose 0.41%.

IBM reported a seventh consecutive quarterly sales decline due to plunging demand for servers, which helped push down revenue 5.5% to USD27.7 billion in the fourth quarter, below expectations even though bottom-line figures did meet some consensus forecasts.

Elsewhere, Texas Instruments said it would eliminate 1,100 jobs in the U.S., India and Japan, which rattled nerves as well.

Offsetting losses, however, United Technologies and Norfolk Southern released fourth-quarter results that topped expectations, while smartphone maker BlackBerry said it would sell off Canadian real estate.

Leading Dow Jones Industrial Average performers included Boeing, up 1.91%, Walt-Disney, up 1.52%, and United Technologies, up 1.02%.

The Dow Jones Industrial Average's worst performers included IBM, down 3.17%, Procter & Gamble, down 1.17%, and General Electric, down 1.12%.
European indices, meanwhile, finished largely lower.

After the close of European trade, the EURO STOXX 50 fell 0.02%, France's CAC 40 rose 0.03%, while Germany's DAX 30 fell 0.10%. Meanwhile, in the U.K. the FTSE 100 finished down 0.12%.

On Thursday, the U.S. is release its weekly report on initial jobless claims and a private sector report on existing home sales.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Forex and Currencies

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