Monday, May 30, 2016
Current Weather
Loading Current Weather....
Published: Thursday, 1/16/2014

Weak results from CSX, Citi drag stocks lower

Best Buy plunges on holiday sales decline


NEW YORK — Retailers and railroads are among the biggest decliners in midday trading as investors react to disappointing earnings from Best Buy and a poor outlook from CSX.

The Dow Jones industrial average fell 69 points, or 0.4 percent, to 16,413 as of noon today.

The Standard & Poor’s 500 was down four points, or 0.3 percent, at 1,843, slightly below its record high close the day before.

The Nasdaq composite was down a point at 4,213.

Best Buy plunged 28 percent after a decline in holiday sales disappointed investors who were expecting growth.

A weak earnings forecast from railroad operator CSX late Wednesday dragged that stock and other railroads lower. CSX dropped 7 percent.

Recommended for You

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