Weak earnings reports pull US stocks lower


Posted on: April 18th, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — Wall Street closed in the red on Tuesday as investors digested several weak earnings reports.

The Dow Jones fell 113.64 (-0.55 percent) to finish at 20,523.28.

The Nasdaq slid 7.32 (-0.12 percent) to close at 5,849.47, while the S&P 500 finished at 2,342.19, down 6.82 (-0.29 percent) from its open.

Crude oil prices were flat at under $53 a barrel.

Winners and Losers: Shares of Goldman Sachs slumped nearly 5 percent after missing investors’ expectations for profit and revenue in the first-quarter.

Johnson & Johnson was also a disappointment for investors, reporting a drop in sales in its quarterly report. Shares in the pharmaceutical company sunk over 3 percent.

In its first-quarter report Monday, Netflix revealed it added fewer dometic and international subscribers than estimated. The streaming service’s stock fell under 3 percent.

Health and nutrition retailer GNC Holdings Inc. beat expectations for both revenue and earnings, sending shares to soar nearly 25 percent.

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