Daily Market Wrap: October 23, 2012 Tuesday, October 23, 5:04 PM ET
A handful of disappointing quarterly earnings reports sent the markets into negative territory today, as did concerns over Spain's economy.
Chemical company DuPont (NYSE:
DD) missed profit expectations and slashed its earnings forecast. The company also announced 1,500 job cuts, sending shares sharply lower today.
Also among Dow components, United Technologies (NYSE:
UTX) posted higher third quarter net income and revenue, but shaved its sales forecast for the year, citing uncertainty in the global economy.
MMM) met earnings expectations but revenue fell short, sending shares lower today.
Dismal quarterly results from electronics retailer Radioshack (
RSH) are raising new concerns about the company's future. The retailer said the loss was due to weak margins in its smartphone business.
Tomorrow, we'll take a look at the numbers for weekly mortgage applications as well as earnings from AT&T (NYSE:
T) and Boeing (NYSE: BA).
For Marketnewsvideo.com, I'm Sayoko Murase.
Tuesday Sector Laggards: Metals & Mining, Oil & Gas Exploration & Production Stocks
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Tuesday Sector Leaders: Drugs, Apparel Stores
Related symbols: TRVN, BPTH, ARO, ANF
Monday Sector Laggards: Precious Metals, Water Utilities
Related symbols: AUY, ABX, SBS, CWCO
Tuesday's ETF with Unusual Volume: GWX
Related symbols: GWX, CPG.CA, SPE.CA, CUS.CA, GXE.CA
Tuesday's ETF Movers: PCEF, XOP
Related symbols: GGM, EVV, TPLM, HK, XOP, PCEF
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Related symbols: STT, HUM, PXD, BBEP, GME, ARP
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Related symbols: DE, DG, IRM, WR, DRH, TOWN, CTS
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Daily Market Wrap: October 23, 2012
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