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FRIDAY, NOVEMBER 27, 2009
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Dow Off 25 Amid Poor Earnings

Dismal reports expected from Liz Claiborne, GE and Lexmark

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(Newser) – Stocks ended mixed today as the earnings season got off to a poor start. Alcoa’s $1.2 billion loss after yesterday’s close set the stage for a fifth consecutive down day for the Dow, the Wall Street Journal reports, with the index off 25.41 to close at 8,448.56. The Nasdaq, however, gained 7.67, closing at 1,546.46, and the S&P 500 rose 1.53 to settle at 871.79.

Liz Claiborne and Lexmark fell 8.4% and 13.2%, respectively, after slashing quarterly forecasts. General Electric fell 5.6% after a Barclays analyst predicted that the conglomerate would post lackluster earnings. JPMorgan Chase saw its stock rise 5.6% after announcing it would release its earnings a week earlier—even though that might not mean it has good news to share.

In this 2006 file photo, large rolls of aluminum are cooled before they get cut to order size at the Alcoa Warrick Operations in Newburgh, Ind.
In this 2006 file photo, large rolls of aluminum are cooled before they get cut to order size at the Alcoa Warrick Operations in Newburgh, Ind.   (AP Photo)
Albert Young of Ameriprise Advisor Services watches the late numbers on the floor of the New York Stock Exchange in this file photo
Albert Young of Ameriprise Advisor Services watches the late numbers on the floor of the New York Stock Exchange in this file photo   (AP Photo)
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We forecast negative growth for all four quarters of the year. And roughly a 5% cumulative fall in GDP from the start of this recession.
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