Earnings from McDonald’s, Microsoft sink stocks
Weak earnings reports from McDonald’s, Microsoft and others drive stocks lower on Wall Street
By Matthew Craft, AP Business Writer | Associated Press
NEW YORK (AP) — Poor earnings reports from three companies in the Dow Jones industrial average — Microsoft, General Electric and McDonalds — sent indexes down sharply Friday, marking a sour end to an otherwise strong week in the stock market.
McDonald’s led a broad drop in the Dow, falling 3 percent. The Dow was down 151 points at 13,397 shortly after noon.
“I’m concerned about corporate earnings, but I’m not alarmed yet,” said Doug Cote, chief market strategist at ING Investment Management in New York.
From Yahoo Finance.
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October 19, 2012
World