Stock market pulls back from all-time high after weak results from Google, Microsoft
Posted Jul 19, 2013 11:52:32 AM.
This article is more than 5 years old.
NEW YORK, N.Y. – Weak earnings from big technology companies are sending stocks lower in midday trading on Wall Street.
The technology sector led the declines Friday after disappointing results from Google, Microsoft and the chip maker Advanced Micro Devices.
The Dow Jones industrial average fell 33 points, or 0.2 per cent, to 15,515 as of midday Eastern Daylight Time.
The Standard & Poor’s 500 fell a point to 1,687.
The technology-heavy Nasdaq composite slid 30 points, or 0.8 per cent, to 3,581.
The Dow and S&P 500 pulled back from all-time highs they reached Thursday.
Microsoft plunged 11 per cent to $31.50 after the company wrote off $900 million in expected losses on its Surface tablet and reported declining revenue for its Windows operating system.
General Electric rose 5 per cent to $24.75 after reporting higher income.
