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Stocks move lower on Wall Street; eBay slides

Published on NewsOK Modified: April 18, 2013 at 10:59 am •  Published: April 18, 2013
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NEW YORK (AP) — Stock prices are moving lower as several big companies report financial results that disappointed investors.

The Dow Jones industrial average was off 67 points at 14,551 at midday Thursday, a decline of 0.5 percent. The Dow lost 138 points the day before and is down 2 percent for the week.

The Standard & Poor's 500 index fell five points, or 0.3 percent, to 1,547. The Nasdaq composite fell 21 points, or 0.6 percent, to 3,183.

Ebay sank 5 percent to $53.38 after cutting its profit forecast.

UnitedHealth, the nation's largest health insurance company, was down 3.5 percent at $59.87 after reporting a 14 percent drop in first-quarter earnings.

Weak economic reports also discouraged investors. Unemployment claims rose last week and manufacturing weakened in the mid-Atlantic region.


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