The Dow Is Down on a Mixed Day for Stocks

Discouraging news from 3M dragged on the blue-chip index.

Discouraging news from 3M dragged on the blue-chip index.

Mixed Trading. The Dow Jones Industrial Average fell, dragged lower by discouraging news from 3M, but the other major U.S. stock-market indexes were higher as investors assessed a flood of news about corporate earnings.

The Dow lost 49 points, or 0.2%. The S&P 500 gained 0.1% and the Nasdaq Composite rose 0.6%.

Midday Movers

3M (ticker: MMM) fell 4.4% as management lowered its forecast for full-year earnings for the second time in three quarters.

Align Technology (ALNG) gained 12% after the maker of teeth aligners used in orthodontics beat Wall Street’s estimates for earnings and revenue.

Lam Research (LAM) rose 11.4% to a record high. The company reported strong results for the fiscal first quarter and issued a positive outlook, news that prompted a slew of favorable reports from analysts.

O’Reilly Automotive (ORLY) rose 8.4%. It revenue came in shy of analysts’ expectations, but its earnings per share were better than anticipated. beat consensus and it boosted its full-year EPS guidance.

Twitter (TWTR) plunged 19% after revenue fell short of expectations. The company blamed a software bug in its advertising platform.

Alliance Data Systems (ADS) dropped 14.7%. Both its quarterly revenue and earnings were lower than expected.

Write to Ben Walsh at

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

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