Following the market opening Friday, the Dow traded down 0.75 percent to 16,075.65 while the NASDAQ tumbled 0.98 percent to 4,177.55. The S&P also fell, dropping 0.84 percent to 1,813.09.
Procter & Gamble Co (NYSE: PG) reported a better-than-expected second-quarter net profit.
Procter & Gamble's quarterly profit declined to $3.43 billion, or $1.18 per share, from a year-ago profit of $4.06 billion, or $1.39 per share. Its core earnings fell to $1.21 per share.
Its sales came in at $22.28 billion versus $22.18 billion. However, analysts were projecting earnings of $1.20 per share on sales of $22.36 billion.
Equities Trading UP
Juniper Networks (NYSE: JNPR) shot up 6.85 percent to $27.79 after the company reported better-than-expected fourth-quarter results. Barclays upgraded the stock from Equalweight to Overweight and lifted the price target from $29.00 to $34.00.
Shares of Open Text (NASDAQ: OTEX) got a boost, shooting up 12.23percent to $101.70 after the company reported upbeat Q2 results and announced a 2-for-1 stock split.
Microsoft (NASDAQ: MSFT) was also up, gaining 3.70 percent to $37.39 after the company reported stronger-than-expected fiscal second-quarter results. Credit Suisse raised the price target on the stock from $40.00 to $42.50.
Equities Trading DOWN
Shares of Kansas City Southern (NYSE: KSU) were down 15.66 percent to $98.91 after the company reported downbeat Q4 earnings.
International Game Technology (NYSE: IGT) shares tumbled 11.44 percent to $15.63 after the company reported weaker-than-expected fiscal first-quarter results. Sterne Agee downgraded the stock from Buy to Neutral and cut the price target from $21.50 to $18.00.
First Niagara Financial Group (NASDAQ: FNFG) was down, falling 11.17 percent to $9.19 on Q4 results. The company issued weak FY14 earnings outlook.
In commodity news, oil traded down 0.03 percent to $97.30, while gold traded up 0.42 percent to $1,267.60.
Silver traded up 0.67 percent Friday to $20.15, while copper fell 0.02 percent to $3.29.
European shares were lower today. The Spanish Ibex Index declined 2.36 percent, while Italy's FTSE MIB Index tumbled 1.04 percent. Meanwhile, the German DAX fell 1.24 percent and the French CAC 40 slipped 1.54 percent while U.K. shares declined 0.99 percent.
On the economics calendar Friday, there is no important data due out.
Posted-In: Earnings News Guidance Eurozone Futures Forex Global Econ #s Economics Intraday Update Markets Movers Tech
(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Most Popular The ETF To Play The Tesla Motors Rally (QCLN, TSLA, CREE, FSLR) Google To Add Bitcoin Support For Google Wallet Exxon Mobil Or Chevron: Which Is The Better Bet? Benzinga's M&A Chatter for Wednesday January 22, 2014 Retailers On The Ropes: 7 Companies Expected To Have A Difficult 2014 Market Wrap For January 22: Earnings Season Continues To Come In Mixed Related Articles (FNFG + BZSUM) Mid-Morning Market Update: Markets Open Lower; Procter & Gamble Profit Beats Estimates #PreMarket Primer: Friday, January 24: Growth Fears Drag Down Emerging Markets Earnings Scheduled For January 24, 2014 Market Wrap For January 23: Chinese Data, Mixed Earnings Spooking Investors Mid-Morning Market Update: Markets Tumble; McDonald's Posts Better-Than-Expected Earnings #PreMarket Primer: Thursday, January 23: Syrian Peace Conference Off To A Volatile Start Around the Web, We're Loving... Lightspeed Trading Presents: Thunder and Tubleweeds: Trading Techniques for the New Market Enviroment Pope Francis Rips 'Trickle-Down' Economics