The Dow failed to strengthen its grip on the throttle on Thursday, even after its 8th-largest stock beat earnings estimates, reigniting investor optimism after Boeing - its largest component - saw profit plunge 275% year-over-year. Dow (Almost) Steals Nasdaq's Thunder A busy week for earnings made for a choppy day on Wall Street. Futures tracking the Dow Jones Industrial Average had pointed to a...
By CCN: The Dow lagged the broader U.S. stock market on Thursday after industrial conglomerate 3M Co (MMM) reported disappointing quarterly financial results, underscoring a dismal outlook facing the global economy. Dow Lags Its Stock Market Peers After falling 187 points, the Dow Jones Industrial Average would pare losses to settle down 134.97 points, or 0.5%, at 26,462.08. The blue-chip index...
By CCN: 3M stock (MMM) plunged by 11 percent on Thursday after the $112 billion company unveiled disastrous first-quarter earnings, drastically slashed its full-year guidance, and announced that it would hand out pink slips to 2,000 employees as part of a radical restructuring plan. But while analysts will justifiably blame 3M for hamstringing the Dow Jones Industrial Average as it seeks to...
By CCN: The Dow crashed toward a brutal pullback on Thursday after the index's third-largest stock cratered following another bout of earnings mayhem. Meanwhile, the US presidential contest is heating up, with Joe Biden vowing to "save the world" from Donald Trump, and the president nakedly mocking the ex-VP's intelligence. Dow Gets Pummeled as Third-Largest Stock Drops Brutal Earnings Shock The...