US stocks fall on mixed earnings Yelp stumbles

GMT 14:34 2015 Thursday ,30 April

Arab Today, arab today US stocks fall on mixed earnings Yelp stumbles

US stocks
New York - AFP

US stocks dipped in opening trade Thursday following a batch of mixed earnings, including from oil giant ExxonMobil and online listings company Yelp.

Five minutes into trade, the Dow Jones Industrial Average was at 18,024.26, down 11.27 points (0.06 percent).

The broad-based S&P 500 lost 2.68 (0.13 percent) at 2,104.17, while the tech-rich Nasdaq Composite Index dropped 14.51 (0.29 percent) to 5,009.13.

Exxon rose 0.3 percent despite reporting a 45.7 percent decline in first-quarter earnings to $4.9 billion due to lower oil prices. The results translated to $1.17 per share, well above the 83 cents projected by analysts.

Yelp plummeted 19.1 percent after forecasting second-quarter sales of $131-$134 million, below Wall Street projections of $138.4 million. Analysts also rapped the company for a weak performance in attracting users.


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