Dow Sinks 514 on Bad Earnings

Dow hits new 2009 high but falls back amid light volume

(NEWSER) - The stock indices ended mixed today after strong morning gains lost steam. The Dow hit a new high for 2009, 9931.82, off strong expectations for the third-quarter earnings. But profit-taking traders capitalized on recent gains, pushing the market lower; light trading volume on the Columbus Day holiday amplified their actions. The Dow closed up 20.86 points at 9,885.80. The Nasdaq lost just 0.14 to close at 2,139.14, and the S&P 500 settled at 1,076.18, having gained 4.69, the Wall Street Journal reports. More»

Amazon, Microsoft fall after weak earnings

(NEWSER) - The tech sector exerted downward pressure on stocks today, snapping the Nasdaq’s 12-day winning streak, the Wall Street Journal reports. Microsoft sank 8.9% after reporting a 29% drop in quarterly earnings, while Amazon fell 8.3% after also reporting a disappointing quarter. Alcoa, Pfizer, and Merck helped the Dow climb with modest advances. The Dow gained 23.95 points to close at 9,093.24. The Nasdaq lost 7.64, settling at 1,965.96, and the S&P 500 added 2.97, closing at 979.26. More»

Nasdaq caps 12-day streak

(NEWSER) - Sustained increases in home sales and robust earnings fueled a broad-based rally today, pushing the Dow above 9,000 for the first time since January and marking a 12-day winning streak for the Nasdaq—the first in more than a decade, the Wall Street Journal reports. AT&T and 3M both gained on better-than-expected reports. The Dow added 188.03, closing at 9,069.29. The Nasdaq rose 47.22, to 1,973.60, and the S&P 500 gained 22.22, settling at 976.29. More»

(NEWSER) - Stocks slid at the open, as Citigroup slashed jobs and retailers reported yet more disappointing results. The Dow lost 160 points, while the S&P and Nasdaq dropped 1.8% and 1.5% respectively. Among the big drops were Target and Lowe’s, which each took a 24% hit to their third-quarter nets. Target shares dipped 3%, while Lowe's plunged 34%. More»

(NEWSER) - The Dow had its biggest fall in a month today, as investors showed anxiety over third-quarter earnings. The key index dropped 85.84 points from yesterday's record high to 14,078.69, after aluminum maker Alcoa announced a sales slippage of 3.2%. Boeing contributed to the bearish day with a 2.7% loss, Bloomberg reports, after it pushed back delivery of its much-delayed 787 Dreamliner for 6 more months. More»