Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
NEW YORK (AP) — Mixed earnings news from big U.S. companies left investors searching for direction in early trading, leaving major indexes little changed.
Raytheon fell 5 percent after its results for the first quarter came up short of what investors were expecting. 3M fell 2 percent after its earnings disappointed.
There were plenty of bright spots in the earnings news. Apple led a gain in the technology sector after announcing a big earnings gain, a stock split and a dividend increase. Apple rose 8 percent. Caterpillar also rose after its earnings beat analysts' forecasts.
The Standard & Poor's 500 index was unchanged at 1,875 as of 10 a.m. Eastern time Thursday.
The Dow Jones industrial average edged up 21 points to 16,474 and the Nasdaq rose three to 4,130.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
