US Stocks Falling For 3rd Day On Lower Earnings

By: AP
By: AP

NEW YORK (AP) -- Stocks are sliding following weak earnings from United Parcel Service and other major U.S. companies. The market was headed for its third loss in a row.

The Dow Jones industrial average dropped 119 points to 12,603 at midday Tuesday. The Standard & Poor's 500 fell 12 points to 1,339. The Nasdaq dropped 16 points, to 2,874.

UPS fell $3.78, or nearly 5 percent, to $74.17 after cutting its earnings forecast 4 percent for the year because of the global economic slowdown. Chemical maker DuPont posted a 3 percent decline in net income. Its stock lost 45 cents, or 0.5 percent, to $48.26.

A report from the Federal Reserve Bank of Richmond indicated that manufacturing in the central-Atlantic region is contracting. That followed reports of pullbacks in New York and Philadelphia.


KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 163558236 - kktv.com/a?a=163558236