News Summary: Uneven earnings leave stocks flat

AP News
Posted: Jul 23, 2013 4:48 PM

UPS, DOWNS: It was a busy day for earnings, but the mixed bag of results didn't give the market a clear direction to follow. Wendy's soared after beating Wall Street's profit estimates, but Marlboro maker Altria group slumped.

DOW BOOST: The Dow Jones industrial average eked out a gain of 22 points, but that was due entirely to the increase in one stock: United Technologies. Without the 3 percent gain in that stock, the Dow would have closed down a point.

NETFLIX SLIP: Netflix slumped 5 percent even after reporting that its second-quarter profit more than quadrupled. Investors were expecting even larger numbers of subscriber additions. Investors have high expectations for the company after its stock surged 170 percent this year.

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