Comment
0
Tweet
0
Print
RSS Feeds

Stocks little changed as investors assess earnings

Wednesday - 1/22/2014, 5:50pm  ET

STEVE ROTHWELL
AP Markets Writer

NEW YORK (AP) -- Stocks are little changed after a mixed batch of company earnings.

IBM dropped 3 percent after its revenue fell short of what investors were expecting. Norfolk Southern climbed 5 percent after the rail company said its fourth-quarter profit rose as shipping volume grew.

The Standard & Poor's 500 index rose a point to close at 1,844 Wednesday. The Dow Jones industrial average was down 41 points, or 0.3 percent, at 16,373. The Nasdaq composite rose 17 points, or 0.4 percent, to 4,243.

Coach slumped 6 percent after the luxury goods maker reported a lower quarterly profit, citing weakness in women's bags and accessories in North America.

Small-company stocks are doing better than large ones since the beginning of the year, continuing a trend from 2013.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.