US stocks open lower on mixed retail earnings
Tuesday, 20 May 2014
US stocks Tuesday opened lower following a mixed batch of quarterly earnings reports from retailers. Five minutes into trade, the Dow Jones Industrial Average fell 35.70 (0.22 percent) to 16,476.16. The broad-based S&P 500 declined 3.38 (0.18 percent) to 1,881.70, while the tech-rich Nasdaq Composite Index dropped 10.99 (0.27 percent) to 4,114.82. Dow member Home Depot said cold weather crimped sales in the first quarter even as it bumped up its full-year earnings forecast. But Staples reported first-quarter earnings of 18 cents per share, three cents shy of analyst expectations. Home Depot shares rose 2.0 percent, while Staples sank 10.7 percent, according to AFP.