Poor showings from several big technology companies including Apple and Microsoft weighed on the stock market in early trading Wednesday. The slide comes as investors are focusing on corporate earnings in a light week for major economic data.
KEEPING SCORE: The Dow Jones industrial average fell 17 points, or 0.1 percent, to 17,902 as of 10:09 a.m. Eastern Time. The Standard & Poor’s 500 index slipped three points, or 0.1 percent, to 2,116. The Nasdaq composite lost 32 points, or 0.6 percent, to 5,175.
APPLE WORRIES: Apple sank 4.7 percent a day after the company gave a cautious outlook for the current quarter and didn’t provide much detail on how its new smartwatch was doing. The stock $6.14 to 124.64.
BAD CALL: Microsoft reported a hefty quarterly loss late Tuesday reflecting an expense of $8.4 billion related to its purchase of the Nokia phone business over a year ago. The stock was down 36 cents, or 0.8 percent, to $46.92.
MONSTER QUARTER: Coca-Cola shares rose in early trading after the beverage maker reported a higher profit in the second quarter as it raised prices, cut costs and benefited from a gain related to its purchase of a stake in energy drink maker Monster Beverage. Coca-Cola gained 31 cents, or 0.8 percent, to $41.50.