Stocks remained flat. Thursday, after a slew of disappointing quarterly results subdued market optimism.
The S&P 500 and Nasdaq Composite both lingered at breakeven. The Dow Jones Industrial Average declined 41 points, or 0.1%.
Micron shares fell more than 5% after the chipmaker released fourth-quarter revenue projection that was in line with expectations.
Levi Strauss fell 14% after the pants manufacturer’s most recent quarterly revenue disappointed investors. Walgreens Boots Alliance dropped 21.5% after lowering its full-year guidance and reporting lower-than-expected earnings in the prior quarter.
Bank stocks were under focus after the Federal Reserve indicated Wednesday that the largest U.S. companies can weather a severe recession. Goldman Sachs stock dropped 2.3% in early trading.
Source (CNBC)
