This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Markets Slip as J&J, Travelers Disappoints While IBM Falls Post-Market

Stocks in this article: ^DJI^GSPC^IXIC

NEW YORK ( TheStreet) -- Major U.S. stock markets closed mixed on Tuesday as disappointing earnings reports from Johnson & Johnson  (JNJ) and Travelers Companies (TRV) gave investors yet another reason to believe that equities may be overbought. A decision by the People's Bank of China's to boost liquidity to its commercial banks provided hope that if the U.S. economy is to continue to rebound, external demand will be a key ingredient.

International Business Machines' (IBM) was dropping in after-hours-trading as the information services giant reported weaker-than-expected sales of computer hardware.

  • The S&P 500 added 0.22% to 1,842.79, while the Dow Jones Industrial Average closed behind by 0.31% to 16,408.34. The Nasdaq gained 0.62% to 4,223.54.
  • European and most Asian markets were higher Tuesday after the People's Bank of China said it would intervene in money markets to cool the "squeeze in interbank-lending lending/borrowing rates."
  • Johnson & Johnson (JNJ) lost 1.1% to $94.03 after missing estimates with a 2014 earnings projection of $5.75 to $5.85 a share.
  • Verizon (VZ) gave up 1.4% to $47.67, even after exceeding fiscal fourth-quarter expectations. As report did also reveal ongoing weakness in the enterprise market and slowdowns in the wireless customer growth.
  • Travelers Companies (TRV) was off 1.7% to $85, despite reporting a more than tripling in fourth-quarter earnings, but revealed some slowdown in new business and lower-than-expected core margins.
  • International Business Machines  (IBM) shares were down 0.84% to $186.85 in after-hours trades as the company after the closing bell reported earnings of $6.13 a share excluding items on revenue of $27.7 billion. Analysts were expecting $5.99 a share on $28.25 billion.
  • The Federal Reserve is expected to keep cutting its massive bond-buying program when it meets next week (Jan 28-29) amid its expectations for solid economic growth this year.
  • U.S. markets were closed Monday for Martin Luther King Day. The economic calendar is empty Tuesday, with investors looking to weekly jobless claims and existing home sales data later this week.

-- Written by Andrea Tse and Joe Deaux in New York.

Follow @atwtse

>Contact by Email.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs