Loading…
Friday, July 25, 2014
Current Weather
Loading Current Weather....
Published: Wednesday, 4/24/2013

P&G, AT&T drop after earnings, holding back Dow

ASSOCIATED PRESS

NEW YORK — Weak earnings forecasts from Procter & Gamble and AT&T held the Dow Jones industrial average back on a mixed day for the stock market.

P&G, which makes Tide detergent and Gillette razors, fell 5 percent after predicting weaker profits than analysts were expecting. AT&T dropped 6 percent after losing subscribers from contract-based plans for the first time as smartphones sales slow.

The Dow was down 24 points at 14,695 as of midday today, a fall of 0.1 percent.

The Standard & Poor’s 500 index was up a point, less than 0.1 percent, at 1,579. The Nasdaq composite was down five points, or 0.2 percent, at 3,263.

A weak report on sales of durable goods also discouraged investors.

Oil and gold prices rose. Bond yields were little changed.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories