Investors unimpressed with earnings; Stocks slip

AP News
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Posted: Oct 21, 2013 11:54 AM
Investors unimpressed with earnings; Stocks slip

NEW YORK (AP) — Stocks are edging mostly lower on Wall Street as the latest earnings from U.S. companies left investors unimpressed.

McDonald's fell after missing analysts' forecasts for revenue.

The Dow was down 21 points, or 0.1 percent, to 15,377 in midday trading Monday.

The Standard & Poor's 500 index was down a point, or 0.1 percent, at 1,742. The Nasdaq composite was up four points, or 0.1 percent, at 3,918.

McDonald's lost 74 cents, or 1 percent, to $94.46. McDonald's has struggled as it faces greater competition, shifting eating habits and tough economic conditions around the world.

Homebuilders fell on news that sales of previously occupied homes fell in September as buyers held back because of higher mortgage rates and home prices. Lennar fell $1.02, or 3 percent, to $34.01.