Lower Open On Weak Income
The markets opened lower with the Dow losing 13 points to 12,194 as consumer income barely edged up 0.1% in September. Nasdaq fell 6 points to 2732.
On the upside
Advanced Micro Devices (NYSE: AMD) reversed year ago losses to post a better than expected profit for the third quarter.
Third quarter earnings surged for Interpublic Group of Companies (NYSE: IPG) to surpass analyst expectations.
Newell Rubbermaid (NYSE: NWL) swung to a loss but the results were better than expected.
On the downside
Whirlpool (Nasdaq: WHR) reported higher third quarter earnings but announced plans to eliminate more than 5,000 positions and slashed its full year guidance.
Third quarter earnings dropped for Cablevision (NYSE: CVC) to fall far short of analyst expectations.
Aon (NYSE: AON) reported higher third quarter earnings but the results missed analyst estimates.
In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 761.
