U.S. stocks end mixed, Dow lags on Caterpillar earnings

14:29, July 23, 2011      

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U.S. stocks ended mixed on Friday as a big earnings miss from Caterpillar weighed down the blue-chip Dow.

Caterpillar, which accounted for the second-biggest proportion of the Dow Jones Industrial Average at the start of trading, slumped about 6 percent after the equipment maker reported weaker- than-expected second-quarter earnings, the first miss in recent ten quarters.

The tech-heavy Nasdaq outperformed on Friday, boosted by strong earnings from technology powerhouses.

Advanced Micro Devices, the second-largest maker of processors for personal computers, soared nearly 20 percent after forecasting more sales than analysts estimated.

SanDisk also surged about 10 percent after the memory chips maker reported substantially higher profit than Wall Street anticipated.

The Dow Jones industrial average lost 43.25 points, or 0.34 percent, to 12,681.16. The Standard & Poor's 500 was up 1.22 points, or 0.09 percent, to 1,345.02. The Nasdaq Composite Index jumped 24.40 points, or 0.86 percent, to 2,858.83.

Source:Xinhua
 
 
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(Editor:黄蓓蓓)

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