Tuesday 2:20pm
October 21, 2014
Currently 70°F
Posted: Friday, July 25th 2014 at 4:57pm

Disappointing results at Visa, Amazon hurt stocks; Dow drops 123

By The Associated Press
EMAIL STORY CONTACT EDITOR PRINT
click to enlarge
NEW YORK (AP) -- The stock market ended lower Friday after Visa and Amazon posted disappointing results.

The Dow Jones industrial average dropped 123 points, 0.7 percent, to close at 16,960 Friday. The Standard & Poor's 500 index fell nine points, or 0.5 percent, to end at 1,978. The tech-heavy Nasdaq composite dropped 22 points, or 0.5 percent, to 4,449.

Amazon's stock slumped $34.60, or 9.6 percent, to $324.01 after the online retail giant posted a wider loss than analysts had forecast. The stock slid the most in the S&P 500 index.

The Dow was dragged down by Visa, which fell $7.97, or 3.6 percent, to $214.77. The credit card processing giant reported an 11 percent rise in quarterly profit but cut its full-year forecast on concerns about overseas growth.
Associated Categories: National News, Business News, Local/State News

© Copyright 2014 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.


  • Click here
  • Click here
  • Click here
  • Click here
  • Click here
0.039659
icon
70°F
Gainesville, GA 30501
Clear
Wind: West 16 mph
Dew point: 50°F