Weak showings from companies including IBM send stocks lower


U.S. stocks are ending broadly lower after a handful of companies turned in disappointing quarterly results.

United Technologies sank 7 percent Tuesday after it lowered its forecast for the year and reported revenue that didn’t live up to analysts’ forecasts.

IBM fell 6 percent after turning in another decline in revenue. Verizon was another company whose revenue didn’t live up to forecasts.

Harley-Davidson jumped 5 percent after its earnings beat estimates.

The Dow Jones industrial average gave up 181 points, or 1 percent, to 17,919.

The Standard & Poor’s 500 index lost nine points, or 0.4 percent, to 2,119. The Nasdaq composite declined 10 points, or 0.2 percent, to 5,208.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.34 percent.

source – loopjamaica.com