corporate

US stocks finish mixed as earnings season continues

NEW YORK: US stocks ended the day mixed on Tuesday, as corporate earnings results weighed on some companies and sent others surging.

The Dow Jones Industrial Average fell rose 0.3 percent to 37,905.45, snapping a three-day winning streak that pushed it to record highs on Monday.

The broad-based S&P 500 closed up 0.3 percent at 4,864.60, and the tech-heavy Nasdaq Composite Index gained 0.4 percent to close the day at 15,425.94.

"So far for the most part earnings have been good enough," Steve Sosnick from Interactive Brokers told AFP, adding that results included "the usual assortment of winners and losers."

He added it was "still early" in the season, and that more than 75 companies in the S&P 500 are due to report earnings this week, including some big tech firms.

The US conglomerate 3M was one of the day's biggest losers, falling more than 11 percent after reporting disappointing earnings results for the fourth quarter.

And US defense giant RTX, formerly Raytheon, saw its share price jump 5.3 percent after it beat expectations.

In after-hours trading, the streaming giant Netflix saw its share price jump more than 4.5 percent after its earnings showed stronger-than-expected revenues.

-AFP

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