Business

US Stocks open mostly lower as earnings news disappoints

The ASSOCIATED PRESS
FILE - In this Feb. 10, 2011, file photo, American flags fly in front of the New York Stock Exchange. The price of oil is rising, Wednesday, Feb. 17, 2016, as major oil producing countries are discussing a potential output freeze. (AP Photo/Mark Lennihan, File)
FILE - In this Feb. 10, 2011, file photo, American flags fly in front of the New York Stock Exchange. The price of oil is rising, Wednesday, Feb. 17, 2016, as major oil producing countries are discussing a potential output freeze. (AP Photo/Mark Lennihan, File) Mark Lennihan AP

NEW YORK -- Stocks are edging mostly lower in early trading after several companies posted disappointing quarterly results.

Wal-Mart Stores led the Dow Jones industrial average lower Thursday with a 5 percent decline after the giant retailer cut its revenue forecast.

Perrigo, a drugmaker, and the cable channel operator Discovery Communications also stumbled after releasing disappointing results.

The market is coming off a three-day rally, its longest of the year so far.

The Dow Jones industrial average edged up 14 points, or 0.1 percent, to 16,463 in early trading.

The Standard & Poor's 500 index was down two points, or 0.2 percent, at 1,923. The Nasdaq composite lost seven points, or 0.2 percent, to 4,526.

This story was originally published February 18, 2016 at 10:26 AM with the headline "US Stocks open mostly lower as earnings news disappoints ."

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