US stocks edge lower in early trading; Keurig plunges

AP News
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Posted: Aug 06, 2015 9:39 AM
US stocks edge lower in early trading; Keurig plunges

NEW YORK (AP) — U.S. stocks are edging modestly lower in early trading as investors look over the latest deal and earnings news.

Keurig Green Mountain plunged 28 percent Thursday after the maker of single-serve coffee machines said revenue from coffee pods and brewers both fell in the latest quarter.

Mondelez International, which makes Oreo cookies and Cadbury chocolate, jumped 4 percent after the activist investor Bill Ackman took a $5.5 billion stake in the company.

The Dow Jones industrial average fell 52 points, or 0.3 percent, to 17,489 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index fell four points, or 0.2 percent, to 2,095.

The Nasdaq composite fell 12 points, or 0.2 percent, to 5,127.

Crude oil fell 1 percent to $44 a barrel.