Weak corporate earnings send US stocks lower

AP News
Posted: Nov 05, 2013 11:58 AM
Weak corporate earnings send US stocks lower

NEW YORK (AP) — Stocks are moving slightly lower on Wall Street as investors react to disappointing corporate earnings.

Tenet Healthcare plunged after the hospital operator said its third-quarter profit fell as its absorbed costs associated with its acquisition of Vanguard Health Systems. Delphi Automotive dropped after the company cut its earnings forecast for the year.

The Standard & Poor's 500 index was down three points, or 0.2 percent, to 1,764 as of noon Eastern time Tuesday.

The Dow Jones industrial average was down 20 points, or 0.1 percent, to 15,619 points.

Stephen Moore

The Nasdaq composite fell point to 3,935.

The market is still close to record levels after a surge that has put the S&P 500 on track for its best performance since 2009. The index is up 24 percent this year.