US stocks eased down on weak corporate reports

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Source: Dukascopy Bank SA
© Scanpix/AP
US stocks ended the week on the negative note as investors continued to witness dismal corporate reports. Uncertainty over Greece and Spain also weighted down on the market sentiment. However, the downside was limited due to faster-than-expected US GDP expansion in Q3. The S&P 500 Index inched down 0.07% to close at 1,411.94. Six sectors climbed. The top-performers were telecommunications and consumer services companies. Verizon Communications and Crown Castle International advanced 1.08% and 0.62% while Apollo Group and Chipotle Mexican Grill rose 0.51% and 1.42%. Among other gainers, Varian Medical Systems soared 15.20% after posting a 20% increase in income in Q3. On the downside were financials and health care firms. Comerica dropped 1.18% while AmerisourceBergen dipped 1.06%. Goodyear Tire & Rubber plunged 10.41% after reporting a sharp fall in sales in Europe.  VeriSign was the top-loser, slumping 15.47%. The firm announced that the US Department of Commerce may not renew agreement with VeriSign after the current agreement's expiration in the end of November.
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Mon, 29 Oct 2012 15:45:56 GMT

US blue chips inched higher on Friday

US blue chip index eased higher on Friday as encouraging US GDP data outweighed weak corporate reports. At the same time, uncertainty over Greece and Spain continued to create heavy pressure on global stocks. Meanwhile, traders remained cautious ahead of US consumer confidence data due on Tuesday. The Dow Jones Industrial Average Index rose 0.03% to end the week at

Mon, 29 Oct 2012 15:20:56 GMT

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