US STOCKS-Wall St slips after six-day S&P run; biotechs drop

miércoles 23 de abril de 2014 14:28 GYT
 

* S&P 500, Nasdaq coming off six-day winning streak

* AT&T falls after results, but Boeing rallies

* Amgen drags biotech lower, but Gilead gains

* Dow off 0.2 pct; S&P 500 down 0.2 pct; Nasdaq off 0.8 pct (Updates to mid-afternoon, changes byline)

By Chuck Mikolajczak

NEW YORK, April 23 (Reuters) - U.S. stocks declined on Wednesday after a six-session winning streak as gains in Boeing and Gilead were offset by slides in AT&T and the wider biotech sector.

AT&T Inc fell 3.6 percent to $35 a day after the Dow component reported adjusted earnings that beat expectations by a penny, though that was offset by weak service revenue growth. Verizon Communications shed 1.2 percent to $47.36 while the S&P telecom sector index dropped 2.1 percent, easily making it the session's worst-performing sector so far.

Biotech shares tumbled, pulling the Nasdaq lower. Amgen Inc slid 5.9 percent to $112.23 a day after the company reported earnings that missed forecasts. Biogen Idec Inc fell 1.3 percent to $302.50 despite a strong outlook.

Both the Nasdaq biotech index and NYSEArca biotech index lost 1.5 percent.   Continuación...