Earnings Send Stocks South

By Kevin Spak,  Newser Staff
Posted Apr 21, 2009 8:40 AM CDT
Trader Gregory Rowe, right, works on the floor of the New York Stock Exchange Monday, April 20, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks slid at the open this morning, after a rash of less-than-inspiring earnings reports from major companies. The Dow was down 30 points, as components Coca-Cola, Caterpillar, Dupont, and Merck all posted lousy first quarters. Caterpillar swung to a loss and slashed guidance, sending shares down 5%, while Dupont fell 3.5% after earnings fell 59%. The Nasdaq and S&P, meanwhile, were down 0.3% and 0.5% respectively.