Why the Dow Fell Today
The Dow Jones Industrial Average (INDEX: ^DJI) fell for the second day in a row as Europe failed to make much headway on the Greek debt talks and as five Dow components reported earnings.
|Dow Jones Industrial Average||-33.07 [-0.26%]||12,708|
|S&P 500||-1.37 [-0.10%]||1,314.6|
Earnings played a major role in the Dow's decline.
Travelers' (NYS: TRV) earnings were $1.51 per share, below analyst expectations of $1.53. Revenue came in at $6.4 billion, above analyst expectations of $5.47 billion. Still, this company was the Dow's loss leader and finished the day down $2.29, or 3.8%, to $58.00.
Verizon (NYS: VZ) reported a loss of $0.71 per share. Excluding $1.20 of severance, pension, and benefit costs, EPS were $0.51, slightly below analyst expectations of $0.53. Revenue was up nearly 8% to $28.4 billion, in line with expectations. The company finished down 1.59%, or $0.61, to $37.79.
McDonald's (NYS: MCD) was the only stock that reported strong earnings this morning. Earnings per share were up 15% to $1.33, above analyst expectations of $1.30 per share. Revenue was $6.82 billion, slightly above analyst expectations of $6.81. However, as with the rest of the earnings reporters, McDonald's finished the day down 2.2%, or $2.20, to $98.75.
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At the time this article was published Dan Dzombakholds no position in any company mentioned. Check out hisholdings and a short bio.Motley Fool newsletter serviceshave recommended buying shares of McDonald's. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
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