S&P 500 Falls as GE, Intel Earnings Disappoint Investors

Latest Stock Market Updates and News 

Most U.S. stocks retreated, dragging the Standard & Poor’s 500 Index lower for the week, as earnings from companies including General Electric (GE)Co. to Intel Corp. disappointed investors.

Stock Market

General Electric lost 2.3 percent as margins at its manufacturing units fell short of projections. Intel dropped 2.6 percent as its revenue forecast raised concern the personal-computer market is struggling to grow. United Parcel Service Inc. slid 0.6 percent as it projected earnings below analysts’ estimates. American Express Co. climbed 3.6 percent after reporting fourth-quarter profit doubled.

The S&P 500 (SPX) fell 0.4 percent to 1,838.70 at 4 p.m. in New York. The Dow Jones Industrial Average rose 41.55 points, or 0.3 percent, to 16,458.56 as American Express and Visa Inc. surged. Markets will close on Jan. 20 for the Martin Luther King Jr. Day holiday.

“Investors are taking cues from earnings releases,” Jim Russell, who helps oversee $113 billion as a senior equity strategist for U.S. Bank Wealth Management, said by phone. “Just as important as fourth-quarter earnings are, many investors are watching for company guidance for signs on what early 2014 will bring. This year, we’ll see a tearing between winners and losers and we’ve seen that in this earnings season so far.”

U.S. stocks fell yesterday, dragging the S&P 500 from a record, as Best Buy Co. tumbled after holiday sales declined and earnings at companies from Citigroup Inc. to CSX Corp. disappointed investors. The benchmark gauge is down 0.5 percent this year after jumping 30 percent in 2013 for the biggest annual gain since 1997. For more and regular updates just follow us on Facebook fan page and make your trading risk free with the help of  Automated Stock Trading Software

GE Margins

General Electric slipped 2.3 percent to $26.58. The company reported operating earnings per share in line with analyst estimates. Profit margins at the manufacturing divisions expanded 60 basis points, according to a presentation posted on GE’s website. That fell short of guidance for 70 basis points of growth that Chief Executive Officer Jeffrey Immelt first laid out in December 2012 and affirmed as recently as last month.

Intel erased 2.6 percent to $25.85. The world’s largest maker of computer chips forecast first-quarter revenue that may fall short of some analysts’ estimates as corporate demand fails to reignite personal-computer sales. Consumer notebook demand is declining in Asia, Chief Executive Officer Brian Krzanich said.

UPS (UPS) dropped 0.6 percent to $99.91 after the shipping company projected fourth-quarter earnings that trailed analysts’ estimates. A surge of packages from online shopping just before Christmas forced the company to hire more temporary workers than planned and miss holiday deliveries.

SLM Corp. lost 9.8 percent, the most in the S&P 500, to $24.47. The student lender known as Sallie Mae reported a fourth-quarter profit decline of 22 percent. For full detailed information you can visit www.bloomberg.com/