Business

Weak earnings prospects weigh on stocks

Advertisement

Profits that disappointed, a subscriber slump at AT&T, and a weak forecast from Procter & Gamble held back stocks, as did weak sales growth at Amgen and flat revenues at Eli Lilly. Boeing and General Dynamics tempered the mood with strong profits. So far, 35% of S&P 500 companies have posted earnings, as have 66% of Dow members. Most had better-than-forecast profits but sales weaker than anticipated. Of 35 companies that have given second-quarter forecasts, 28 are ‘‘negative,’’ four ‘‘positive,’’ and three ‘‘in-line.’’ A report that orders for long-lasting US factory goods fell more than economists expected added to concerns global growth is slowing.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com