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US stocks close mixed despite upbeat earnings

Posted on: Friday, 24 October 2003, 06:00 CDT

US stocks close mixed despite upbeat earnings

NEW YORK, Oct. 21 (Xinhua) -- Wall Street stocks finished mixed Tuesday as Texas Instrument's encouraging earnings sent the Nasdaq composite index higher while the Dow Jones industrials were held back by the downbeat AT&T reports.

The Dow Jones industrial average fell 30.30 points, or 0.3 percent, to 9,747.64; the Nasdaq composite index rose 15.76 points, or 0.8 percent, to 1,940.90; the Standard & Poor's 500 index edged up 1.35 points, or 0.1 percent, to 1,046.03.

On Tuesday, Texas Instrument Inc. reported that its third- quarter profits rose more than 100 percent, meanwhile other technology companies also reported brighter earnings outlooks. However, AT&T Corp. released disappointing news with its third- quarter results. Analysts said company earnings failed to push the market significantly higher because Wall Street already factored the earnings into the share prices. The investors would be inclined to cash in profits if there were no dramatic performance in company earnings results.

Texas Instrument Inc. climbed 1.61 dollars to 27.28 dollars, Eastman Kodak Co. gained 52 cents to 23.64 dollars, while AT&T Corp. fell 1.07 dollars to 20.00 dollars.

On the NYSE, advancing issues outnumbered decliners 5 to 4, and the trading volume was very light.

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