October 26, 2012
Weak earnings reports weigh on stocks
Page 2 of 2
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Goodyear Tire & Rubber sank 10 percent after a steep dropoff in sales in Europe delivered a blow to its earnings. Shares fell $1.26 to $11.04.

The advertising conglomerate Interpublic also turned in results that fell short of analysts' forecasts, and its stock fell 3.9 percent -- down 15 cents to $10.40.

Of the 10 industry groups in the S&P 500, the biggest gains were in technology and telecom stocks. Intel and Microsoft both rose more than 1 percent.

Amazon shares rose $13.62, or 6.1 percent, to $236.60 despite a smaller-than-expected quarterly profit and a prediction for smaller-than-expected holiday revenue.

Among other companies making big moves, cable TV provider Comcast jumped $1.36, or 3.7 percent, to $37.32 after reporting that its income more than doubled in the latest quarter. Revenue was higher than analysts were expecting, and more customers signed up for premium services like high-definition video recorders.

Varian Medical Systems jumped $8.96, or 15 percent, to $67.06, the biggest increase in the S&P 500 index. The company, which sells medical imaging equipment and radiation-emitting devices for treating tumors, reported a 20 percent rise in income because of higher sales of devices.

On its first day of trading, Dairy company WhiteWave Foods lost 18 cents to $16.82, down from its initial public offering price of $17, after rising as high as $19.17 earlier.

The yield on the 10-year Treasury note fell to 1.76 percent from 1.82 percent on Thursday.

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Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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