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.