Mixed earnings news leaves stocks little changed
NEW YORK (AP) — Mixed earnings news from big U.S. companies left investors searching for direction in early trading, leaving major indexes little changed.
Raytheon fell 5 percent after its results for the first quarter came up short of what investors were expecting. 3M fell 2 percent after its earnings disappointed.
There were plenty of bright spots in the earnings news. Apple led a gain in the technology sector after announcing a big earnings gain, a stock split and a dividend increase. Apple rose 8 percent. Caterpillar also rose after its earnings beat analysts’ forecasts.
The Standard & Poor’s 500 index was unchanged at 1,875 as of 10 a.m. (1400 GMT) Thursday.
The Dow Jones industrial average edged up 21 points to 16,474 and the Nasdaq rose three to 4,130.