US STOCKS-IBM, United Tech drag Dow; Apple results weigh on futures

martes 21 de julio de 2015 17:15 GYT
 

* IBM down after revenue falls for 13th straight quarter

* United Technologies cuts full-year profit outlook

* Apple, Microsoft, Yahoo shares drop in extended trade

* Indexes down: Dow 1.00 pct, S&P 0.43 pct, Nasdaq 0.21 pct (Adds Nasdaq e-mini volume)

By Chuck Mikolajczak

July 21 (Reuters) - U.S. stocks closed lower on Tuesday as results from IBM and United Technologies dampened early optimism over earnings season and after-the-bell declines in major tech shares suggested losses would continue on Wednesday.

The Dow fell 1 percent, with IBM and United Tech contributing around 118 points to the 181-point drop. The decline marked the biggest percentage fall in about two weeks for the blue-chip index.

IBM's shares fell 5.9 percent to $163.07, a day after news that the company's revenues dropped for the 13th consecutive quarter and fell short of analyst expectations.

Fellow Dow component United Technologies tumbled 7 percent to $102.71 and was the worst performer on the Dow after cutting its full-year profit outlook for the third time this year.   Continuación...