US stocks open mostly lower as earnings news disappoints

AP News
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Posted: Feb 18, 2016 9:45 AM
US stocks open mostly lower as earnings news disappoints

NEW YORK (AP) — Stocks are edging mostly lower in early trading after several companies posted disappointing quarterly results.

Wal-Mart Stores led the Dow Jones industrial average lower Thursday with a 5 percent decline after the giant retailer cut its revenue forecast.

Perrigo, a drugmaker, and the cable channel operator Discovery Communications also stumbled after releasing disappointing results.

The market is coming off a three-day rally, its longest of the year so far.

The Dow Jones industrial average edged up 14 points, or 0.1 percent, to 16,463 in early trading.

The Standard & Poor's 500 index was down two points, or 0.2 percent, at 1,923. The Nasdaq composite lost seven points, or 0.2 percent, to 4,526.