Economy

Weak company earnings keep stock market in check

NEW YORK (AP) — More weak earnings results from U.S. companies are keeping stocks in check in early trading.

United Parcel Service slumped 3 percent after warning investors that its fourth-quarter income would be lower than previously anticipated. UPS said it had to hire far more temporary workers than it planned during the holiday season to accommodate a rush of online shopping orders.

The Standard & Poor's 500 index was down two points, or 0.1 percent, at 1,843 in early trading Friday. The Dow Jones industrial average edged up three points, 0.03 percent, to 16,423 and the Nasdaq composite fell five points, 0.1 percent, to 4,213.

Student loan company SLM Corp. dropped 8 percent after its earnings fell short of analysts' expectations. Intel fell 4 percent, the most in the Dow.

Related Headlines

  • Richard Scardion

    A stumble in tech stocks drags US indexes lower

    A slide in technology companies dragged the stock market lower, erasing an early gain. Facebook slumped 7 percent after announcing a $2 billion acquisition of virtual reality ... 

  • Stocks open little changed

    The stock market is little changed in early trading as investors weigh a budget deal out of Washington and a batch of corporate news. The Dow Jones industrial average eased ... 

  • Facebook

    Facebook to sell 70M shares, 41M of them from CEO

    Facebook and Chairman and CEO Mark Zuckerberg are selling a combined 70 million shares of Class A stock as the social media company prepares to join the Standard & Poor's 500 ... 

  • Frederick Reimer

    US stocks slip, but hold close to an all-time high

    The stock market held close to its all-time high on Thursday amid optimism that the economy is set to strengthen. Stocks are on course for their best weekly gain in seven ... 

Find the best rates

Find your future job here