Amwal Al Ghad - 2012-10-27 10:13:56
Most U.S. stocks retreated, driving the Standard & Poor's 500 Index
to a weekly decline, as investors watched economic and corporate
earnings reports.Goodyear Tire & Rubber Co., the largest U.S.
tiremaker, dropped 10 percent after reporting a profit that was below
estimates. VeriSign Inc. (VRSN), an operator of Web domain name
registries, tumbled 15 percent after saying regulators have delayed a
review of the company’s contract for that business. Expedia Inc. surged
15 percent as the online travel agency reported third-quarter earnings
that topped analysts’ estimates.
Eight stocks declined for every five that advanced on U.S. exchanges
at 4 p.m. New York time. The S&P 500 decreased 0.1 percent to
1,411.94 as the benchmark measure extended its weekly decline to 1.5
percent. The Dow Jones Industrial Average increased 3.53 points, or less
than 0.1 percent, to 13,107.21. Volume for exchange-listed stocks in
the U.S. was about 5.8 billion shares, or 2.3 percent below the
“You’re getting a mix of data that don’t have a clear direction,”
said Stephen Wood, the New York-based chief market strategist for North
America for Russell Investments, which oversees $152 billion. “It’s
important for investors’ psychology to see GDP data beating estimates.
Yet the earnings season has been a very challenging one.” More»