Sunday, April 26, 2015
YOLO COUNTY NEWS
99 CENTS

Weak earnings reports weigh on stocks

By
From page A13 | October 28, 2012 |

Stocks closed mostly lower Friday after investors found little to like in weak corporate earnings reports and news of only tepid growth in the U.S. economy in the third quarter.

The Dow Jones industrial average managed a gain of 3.53 points to close at 13,107.21 after spending much of the day in the red.

The Standard & Poor’s 500 index fell 1.03 points to 1,411.94 and the Nasdaq composite rose 1.83 points to 2,987.95.

Stocks rose in the morning before a mild midday sell-off, then recovered somewhat in the afternoon.

The morning gains came after the Commerce Department estimated that the U.S. economy expanded at a 2 percent annual rate from July through September. That was better than the previous quarter, and better than analysts expected, but not strong enough to bring down the unemployment rate.

Even economic data that is mixed or positive won’t outweigh weak earnings, said Lawrence Creatura, a portfolio manager with Federated Investors. Reports like the one on Friday that measure gross domestic product tend to be backwards-looking, while companies are offering forecasts about the months ahead, he said.

“Company earnings trump macro data. Because investors own Apple, they don’t own GDP,” Creatura said.

Apple fell $5.54 to $604 after saying its profit will decline this holiday season.

Even with Friday’s rise, stocks lost ground this week, inflecting a sort of death-by-a-thousand-cuts on the rally that began in September. The Dow was down 236.30 points for the week, or 1.8 percent. The S&P has fallen 21.25 points, or 1.5 percent.

Goodyear Tire & Rubber sank 10 percent after a steep dropoff in sales in Europe delivered a blow to its earnings. The stock fell $1.28 to $11.02.

The advertising conglomerate Interpublic also turned in results that fell short of analysts’ forecasts, and its stock fell 2.5 percent, or 26 cents, to $10.29.

Amazon rose $15.32, or 7 percent, to $238.24 despite a smaller-than-expected quarterly profit and a prediction for smaller-than-expected holiday revenue.

Among other companies making big moves, cable TV provider Comcast jumped $1.20, or 3.3 percent, to $37.56 after reporting that its income more than doubled in the latest quarter. Revenue was higher than analysts were expecting, and more customers signed up for premium services like high-definition video recorders.

Varian Medical Systems jumped $8.83, or 15 percent, to $66.93, the biggest increase in the S&P 500 index. The company, which sells medical imaging equipment and radiation-emitting devices for treating tumors, reported a 20 percent rise in income because of higher sales of devices.

On its first day of trading, dairy company WhiteWave Foods lost 25 cents to $16.75, down from its initial public offering price of $17, after rising as high as $19.17 earlier.

The yield on the 10-year Treasury note fell to 1.75 percent from 1.82 percent on Thursday.

————

By Joshua Freed, AP business writer

Comments

comments

The Associated Press

  • Recent Posts

  • Enter your email address to subscribe to this newspaper and receive notifications of new articles by email.

  • .

    News

    Davis team wins world robotics championship

    By Anne Ternus-Bellamy | From Page: A1 | Gallery

     
     
     
    Nepal quake death toll exceeds 1,800

    By The Associated Press | From Page: A2 | Gallery

    Spring storm delivers late rain, snow to Northern California

    By The Associated Press | From Page: A2

     
    At the Pond: Plenty of pleasures in our bioregion

    By Jean Jackman | From Page: A3 | Gallery

    Pioneering organic chef presents her memoir Monday

    By Special to The Enterprise | From Page: A4

     
    Suspect in UCD assault arrested

    By Lauren Keene | From Page: A4

    Dog park marks anniversary with cleanup

    By Special to The Enterprise | From Page: A4

     
    Rail-safety bill passes Senate committee

    By Special to The Enterprise | From Page: A4

    Free Family Bike Clinic set Sunday

    By Enterprise staff | From Page: A4

     
    Watch them in action

    By Julia Ann Easley | From Page: A5

    Stocks rise on tech earnings; Nasdaq adds to record

    By The Associated Press | From Page: A8

     
    Dodd speaks as part of public policy series

    By Special to The Enterprise | From Page: A9

    We did it (together)!

    By Enterprise staff | From Page: A10

     
    $2.72 million judgment ordered against Dollar Tree Stores

    By Special to The Enterprise | From Page: A10

    Fly Fishers to hear about advanced streamer tactics on Tuesday

    By Special to The Enterprise | From Page: A11 | Gallery

     
    Bicycle activist will speak Monday at Hall of Fame

    By Enterprise staff | From Page: A11 | Gallery

    UCD hosts bike auction Saturday, May 2

    By Enterprise staff | From Page: A11 | Gallery

     
    .

    Forum

    Those texts still linger

    By Creators Syndicate | From Page: B6

     
    New ways of giving locally and beyond

    By Marion Franck | From Page: B6

     
    Study questions accuracy of tumor gene mapping

    By The Associated Press | From Page: B6

    Water, water everywhere?

    By Letters to the Editor | From Page: A12

     
    Mayor’s Corner: A spirit of renewal permeates Davis

    By Special to The Enterprise | From Page: A12

    More work to do for a safe Picnic Day

    By Our View | From Page: A12

     
    Tom Meyer cartoon

    By Debbie Davis | From Page: A12

    Poker proceeds help youths

    By Letters to the Editor | From Page: A12

     
    Invest in water of the future

    By Letters to the Editor | From Page: A12

     
    Anaheim, where The Force is with you

    By Sebastian Onate | From Page: A13 | Gallery

    .

    Sports

    Davis gets two baseball wins in two days

    By Spencer Ault | From Page: B1

     
    Grizzlies dominate young Blue Devils on Senior Night

    By Thomas Oide | From Page: B1 | Gallery

    Energy, fan-friendly happenings highlight UCD spring football game

    By Bruce Gallaudet | From Page: B1 | Gallery

     
    Blue Devil golfers capture CAL Invitational title

    By Enterprise staff | From Page: B1

    UCD roundup: Aggies reach water polo semifinals

    By Enterprise staff | From Page: B2

     
    Blue Devil swimmers are up to the challenge

    By Enterprise staff | From Page: B2 | Gallery

    Babich brings the heat as DHS girls stick it to Oak Ridge

    By Enterprise staff | From Page: B12 | Gallery

     
    DHS softball struggles continue against Sheldon

    By Enterprise staff | From Page: B12 | Gallery

    .

    Features

    .

    Arts

    History comes alive in ‘The Sacramento Picture’

    By Derrick Bang | From Page: A1 | Gallery

     
    .

    Business

    Big Italian food, sports bar to fill Little Prague

    By Wendy Weitzel | From Page: A7 | Gallery

     
    Yolo County real estate sales

    By Zoe Juanitas | From Page: A7

    Davis Roots hires new general manager

    By Special to The Enterprise | From Page: A8

     
    Comcast announces speed upgrade

    By Special to The Enterprise | From Page: A8

     
    .

    Obituaries

    Whitney Joy Engler

    By Special to The Enterprise | From Page: A6

     
    Valente Forrest Dolcini

    By Special to The Enterprise | From Page: A6

     
    .

    Comics

    Comics: Sunday, April 26, 2015

    By Creator | From Page: B8