Stocks trade flat after mixed earnings results
NEW YORK (AP) — Stocks are barely budging in midday trading on Wall Street after a mix of good and bad earnings news from major U.S. companies.
The Dow Jones industrial average was up 22 points to 15,567 as of noon Eastern Daylight Time Tuesday, led by United Technologies and IBM.
The Standard & Poor’s 500 index was down two points at 1,693. The Nasdaq composite fell 12 points to 3,587.
Earnings news was mixed. Wendy’s jumped 12 percent after beating Wall Street’s profit forecasts, but Netflix fell 5 percent after its subscriber additions fell short of what investors were expecting.
United Technologies, citing strong orders at its Otis elevator business in China and for commercial airline parts, turned in results that beat Wall Street’s estimates. The stock rose 2 percent.