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8A Daily News – Wednesday, July 24, 2013 Stock market ends mixed after uneven earnings news NEW YORK (AP) — Uneven corporate earnings news left the stock market mixed on Tuesday. Most major indexes closed slightly lower, except for the Dow Jones industrial average. Yet even there the gain was due to the increase in one stock, United Technologies. Better earnings from big banks, health insurers and other companies have helped drive the stock market higher this month. On Tuesday, however, the encouraging and the discouraging seemed evenly matched. Wendy's and United Technologies surged after posting stronger results than financial analysts expected. Netflix and the Altria Group, maker of Marlboro cigarettes, sank after their results fell short. ''In the absence of major economic news, the focus is on earnings this week,'' said David Joy, chief market strategist at Ameriprise Financial. ''And there's nothing today to drive the market dramatically one way or another.'' The Dow rose 22.19 points, or 0.1 percent, to Wall Street 15,567.74. If not for a 3 percent gain in United Technologies, the Dow would have closed down a point. United Technologies rose $3.01 to $105.12 after the conglomerate said strong orders for commercial airline parts and elevators helped lift its profit. The Standard & Poor's 500 index fell 3.14 points, or 0.2 percent, to 1,692.39. The Nasdaq composite fell 21.11 points, or 0.6 percent, to 3,579.27. It was a busy day for earnings as 35 companies in the S&P 500 were scheduled to turn in results. The second-quarter scorecard looks good so far. More than six out of every 10 companies have posted earnings that surpassed Wall Street's expectations, according to S&P Capital IQ. Analysts forecast that second-quarter earnings for companies in the S&P 500 increased 3.8 percent over the same period last year. ''The bar has been set pretty low,'' said Joel Huff- PHYSICIAN REFERRAL A FREE SERVICE PROVIDED FOR YOUR CONVENIENCE 1-888-628-1948 www.redbluff.mercy.org man, senior portfolio manager at U.S. Bank Wealth Management. So, it's hardly a surprise that many companies are able to jump over it, he said. Sales are another story. Analysts expect revenue to shrink 0.7 percent in the second quarter. Huffman said he's encouraged that Sierra Sound NEW & USED CD's Special Orders Avail. Car Stereo Sales - Service Installation We make house calls! 226 So. Main St., Red Bluff 527-3735 many banks and makers of consumer-discretionary goods have reported stronger U.S. sales. ''It's an indication of the underlying growth in the U.S. economy versus other parts of the world,'' he said. Apple rose $21, or 5 percent, to $439.99 in after-hours trading, when the company reported earnings and revenue that beat Wall Street's forecasts. Among other stocks making big moves: — Wendy's jumped 55 cents, or 8.2 percent, to $7.23. The fast-food company's net income came in RUNNINGS ROOFING Sheet Metal Roofing Residential Commercial • Composition • Shingle • Single Ply Membrane "No Job Too Steep" " No Job Too Flat" Serving Tehama County No Money 530-527-5789 530-209-5367 CA. LIC#829089 Down! FREE ESTIMATES Owner is on site on every job Your account representative will be by soon to discuss its significance. If you can't wait call Greg Stevens at (530) 527-2151 ext. 105 or email gstevens@redbluffdailynews.com DAILY NEWS RED BLUFF TEHAMA COUNTY www.redbluffdailynews.com above Wall Street's expectations. Wendy's also announced plans to sell 425 restaurants as franchises and raised its quarterly dividend by a penny to 5 cents. — Marlboro maker Altria Group said its quarterly results fell short of analysts' expectations. Altria's stock sank 89 cents, or 2.4 percent, to $35.99. — Netflix dropped $11.70, or 4.5 percent, to $250.26. The company said late Monday that it signed up fewer subscribers than financial analysts had projected. Big expectations have propelled Netflix's stock up 170 percent since the start of the year, adding more pressure on the company to deliver amazing numbers. In the market for U.S. government bonds, the yield on the 10-year Treasury note rose to 2.50 percent from 2.48 percent late Monday. Long-term interest rates have swung in a wide range since May, a result of traders speculating over when the Federal Reserve will begin pulling back on its bond-buying program. The rate on the 10-year note, a benchmark for most loans, was trading at 1.61 percent on May 1. It rose as high as 2.75 percent by the second week of July. The NBC to take over part of NASCAR TV CHARLOTTE, N.C. (AP) — NASCAR will return to NBC in 2015, ending its eight-year partnership with both ESPN and Turner Sports. The 10-year deal with NBC Sports Group announced Tuesday begins in 2015 and gives the network the final 20 Sprint Cup Series races of the season and final 19 Nationwide races. NBC last broadcast races in 2006 before ESPN took over its portion of the schedule. ''We are back. We are thrilled to be back,'' said Mark Lazarus, chairman of NBC Sports Group. He said of all the deals made since Comcast Corp. purchased NBC, the NASCAR deal ''is one that we've really been focused on, one that we have wanted to have the opportunity to be able to sit at the table when contractual opportunities came due.'' ''The quantity of content that this deal provides and the quality of content that this provides is really a game changer for us for our entire group, and we can't wait to get started,'' Lazarus added. 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