U.S. stocks
fluctuated, after two days of declines, amid quarterly results from
Regeneron Pharmaceuticals Inc. to Allstate Corp. while Apple Inc.
slipped further into a correction.
Allstate lost 11
percent as the insurer’s profit plunged on a surge in auto claims. CVS
Health Corp. fell 3.3 percent after narrowing its earnings forecast.
Apple sank 2.7 percent to a six-month low. Regeneron and Sprint Corp.
gained more than 4.7 percent as their earnings exceeded analysts’
forecasts. Baxalta Inc. surged 17 percent after Shire Plc offered to buy
the company for about $30 billion.
The Standard &
Poor 500 Index rose less than 0.1 percent to 2,098.22 at 12:06 p.m. in
New York, near its average price during the past 100 days. The Dow Jones
Industrial Average lost 3.61 points, or less than 0.1 percent, to
17,594.59. The Nasdaq Composite Index was little changed.
The S&P 500 rose 2
percent in July, the best monthly gain since February, as earnings from
Amazon.com Inc. and Google Inc. countered declines by energy and mining
stocks. The index closed Monday 1.5 percent below a record set in May.
Source : Bloomberg
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