US STOCKS-Wall St drifts on mixed earnings, utilities drop

lunes 4 de agosto de 2014 12:18 GYT
 

* Berkshire Hathaway shares up after results

* Michael Kors shares slide on margin warning

* Diamond Offshore weighs on Loews earnings

* Indexes: Dow off 0.1 pct, S&P flat, Nasdaq up 0.2 pct (Updates prices, changes comment)

By Rodrigo Campos

NEW YORK, Aug 4 (Reuters) - U.S. stocks were little changed in volatile trading Monday as earnings, including those of Warren Buffett's Berkshire Hathaway, were partly offset by drops in high-yielding dividend stocks in the utilities sector.

The S&P 500 fell 2.7 percent last week, its biggest percentage drop since the week through June 1, 2012. Despite the sharp decline, the benchmark's technical picture was still bullish, analysts said.

The bailout of Portugal's largest listed lender, Banco Espirito Santo, supported bank shares. Lisbon agreed to rescue BES with a $6.6 billion bailout.

Warren Buffett's Berkshire Hathaway Inc said late Friday second-quarter profit soared 41 percent to a record high due to substantial investment gains and improved results in manufacturing, service and retail businesses. The company's class B shares gained 1.4 percent to $127.57.   Continuación...