(By Salman - iStockAnalyst Writer)US stocks tumbled on Friday as investors preferred to book profits after witnessing strong rally in the past few sessions.
The Dow Jones Industrial Average fell 109.13 points or 1.08% to finish at 9,972.18. The S&P 500 retreated 13.31 points or 1.22% to end at 1,079.60. The Nasdaq Composite declined 10.82 points or 0.50% to 2,154.47.
The National Association of Realtors reported Friday that existing home sales jumped 9.4% in September to a seasonally adjusted annual rate of 5.57 million, the highest in more than two years. Economists expected a reading of 5.38 million annual rate.
Early on Friday, software giant Microsoft Corp. (NASDAQ:
MSFT) said that net income fell to $3.57 billion, or 40 cents a share, from $4.37 billion, or 48 cents a share, in the year-ago quarter. Revenue dropped 14% to $12.92 billion. Shares of the software giant surged $1.43 or 5.38% to $28.02.
Shares of Whirlpool (NYSE:
WHR) rallied $3.59 or 4.88% to $77.13 after it announced that its third quarter net income fell to $87 million, or $1.15 per share, from $163 million, or $2.15 per share, in the prior-year quarter. Revenue slipped 8 percent to $4.5 billion from $4.9 billion.
Schlumberger Ltd. (NYSEL:
SLB) lost $3.40 or 4.96% to close at $65.20 after it said that its third quarter net income slumped to $787 million, or 65 cents per share, from $1.53 billion, or $1.25 a share, in the same quarter a year ago. Quarterly revenue tumbled 25 percent to $5.43 billion from $7.26 billion a year ago.
Honeywell International Inc. (NYSE:
HON) reported Friday that its third-quarter net income decreased 15% to $608 million, or 80 cents per share, from $719 million, or 97 cents per share, in the comparable quarter last year. Revenue dropped 17 percent to $7.7 billion. Shares of Honeywell finished at $38.26, down 27 cents or 0.70%.
Late on Thursday, credit card lender American Express Co. (NYSE:
AXP) reported that its third quarter net income dropped 21% to $640 million, or 53 cents a share in the third quarter, compared to $815 million, or 70 cents a share, in the year-ago quarter. Shares of the credit card lender plunged $1.86 or 5.10% to $34.58.
Shares of Alcoa Inc. (NYSE:
AA), the largest US aluminum maker, plummeted 31 cents or 2.21% to $13.73.
Airplane maker Boeing Co. (NYSE:
BA) slumped $1.18 or 2.31% to close at $49.89.
Shares of Dupont Co. (NYSE:
DD), the third-biggest US chemical maker, slid 82 cents or 2.41% to $33.23.
Online retailer Amazon (NASDAQ:
AMZN) said Thursday that third quarter net income jumped 62% to $199 million, or 45 cents a share, from $118 million, or 27 cents a share, for the same period the previous year. Revenue surged 28% to $5.45 billion. Amazon shares soared $25.04 or 26.80% to $118.49.
Among energy stocks, Exxon Mobil (NYSE:
XOM) fell 87 cents or 1.17% to $73.57. Chevron Corp. (NYSE: CVX) lost 61 cents or 0.79% to end at $76.68.
European stocks settled mixed. The UK FTSE gained 35.21 points or 0.68% to 5,242.57. The German DAX and French CAC decreased 0.39% and 0.33% respectively.
Asian stocks finished up. The Nikkei 225 rose 15.82 points or 0.15% to $10,282.99. The Hang Seng index of Hong Kong jumped 379.21 points or 1.71% to 22,589.73.
NYMEX crude oil for November delivery declined 69 cents or 0.8% to settle at $80.50 a barrel.
Disclosure: Author doesn't own any of the stocks discussed here.
