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Stocks open lower after earnings misses

October 19, 2012|By Andrew Tangel
  • Traders work on the floor of the New York Stock Exchange.
Traders work on the floor of the New York Stock Exchange. (Richard Drew / Associated…)

Stocks opened lower Friday after disappointing earnings from corporate giants McDonald's, Microsoft and Google.

The Dow Jones industrial average was down 93 points, or 0.7%, to 13,456 shortly after the opening bell.

The broader Standard & Poor's 500 index was down 8 points, or 0.6%, to 1,449. The Nasdaq lost 25 points, or 0.8%, to 3,048.

General Electric Co. reported a rise in quarterly profit in line with analysts' estimates, but revenues reportedly fell short of expectations.

GE stock lost 40 cents, or 1.8%, to $22.41 in early trading.

Google Inc., whose stock fell 8% Thursday after disappointing earnings results that were accidentally released early, regained some ground, adding $3.15, or 0.5%, to $698.15 after the opening bell.

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