Wall Street slips as IBM, Intel falter after results
By Devik Jain and Medha Singh
Reuters
(Reuters) - Wall Street s main indexes slipped on Friday after hitting record levels in the prior session, as shares of blue-chip technology stalwarts Intel and IBM tumbled following their quarterly results.
IBM Corp slumped 10% and was the top drag on the Dow Jones Industrial Average after it missed estimates for quarterly revenue, hurt by a rare sales decline in its software unit.
Intel Corp shed 6.5% as new Chief Executive Officer Pat Gelsinger s post-earnings comments suggested the lack of a strong embrace of outsourcing.
The S&P 500 and the Nasdaq pared some losses after the opening bell as data showed U.S. manufacturing activity surprisingly surged to its highest level in more than 13-1/2-years in early January amid strong growth in new orders.
Pennsylvania
United-states
Bengaluru
Karnataka
India
Janet-yellen
Pat-gelsinger
Chuck-lieberman
Mark-heppenstall
Saumyadeb-chakrabarty
Medha-singh
Devik-jain