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Stocks edge lower; IBM's woes weigh on the Dow average

7 years 3 months 1 week ago Tuesday, October 20 2015 Oct 20, 2015 October 20, 2015 3:14 PM October 20, 2015 in News
Source: Associated Press
By: APNewsNow

NEW YORK - Stocks are ending slightly lower as some weak earnings reports weigh on the market. 

IBM sank 6 percent Tuesday after the company reported that its revenue fell for the 14th quarter in a row. 

Harley-Davidson plunged 14 percent after reporting a drop in profit and cutting its forecasts for motorcycle shipments.

Pizza Hut and KFC owner Yum Brands gained 2 percent after saying it would spin off its struggling China business.

The Dow Jones industrial average slipped 13 points, or 0.1 percent, to 17,217.

The Standard & Poor's 500 index declined two points, or 0.1 percent, to 2,030. The Nasdaq composite edged down 24 points, or 0.5 percent, to 4,880.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.07 percent.

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