Dow Off 25 Amid Poor Earnings

Dismal reports expected from Liz Claiborne, GE and Lexmark
By Nick McMaster,  Newser Staff
Posted Jan 13, 2009 3:33 PM CST
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)
camera-icon View 1 more image

(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.