US STOCKS-Wall St slips to snap six-day rally; biotechs weak

miércoles 23 de abril de 2014 16:38 GYT
 

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

* AT&T falls after results, but Boeing rallies

* Amgen drags biotech lower, but Gilead gains

* Dow off 0.08 pct; S&P 500 down 0.22 pct; Nasdaq off 0.83 pct (Updates to close, adds Facebook earnings)

By Chuck Mikolajczak

NEW YORK, April 23 (Reuters) - U.S. stocks dipped on Wednesday to snap 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 3.8 percent to $34.92 a day after the Dow component reported earnings that beat expectations, offset by weak service revenue growth. Verizon Communications shed 1 percent to $47.43 while the S&P telecom sector index dropped 2.2 percent, easily making it the session's worst-performing sector.

Biotech shares pulled the Nasdaq lower. Amgen Inc slid 5 percent to $113.32, a day after earnings missed forecasts. The Nasdaq biotech index fell 1.5 percent and NYSEArca biotech index lost 1.6 percent.

"You've got some big numbers coming out from companies that have already been pretty volatile in the Nasdaq, and there is some caution against the potential for shortfalls that could restart Nasdaq on the way down," said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey.   Continuación...