NEW YORK (
) -- U.S. stocks finished mixed Wednesday in a
punctuated by a furious rally in the final hour of trading.
Dow Jones Industrial Average
fell nearly 7 points, or 0.05%, to close at 12,496. The
rose 2.23 points, or 0.17%, to finish at 1319 and the
gained 11.04 points, or 0.39%, to settle at 2850.
Breadth within the Dow was split as well with 15 of the 30 components posting losses.
finished Wednesday flat.
The biggest decliners in the Dow were
Much of the selling in these tech names was driven by the
after Tuesday's closing bell.
HP was the Dow's biggest loser, falling more than 3%. The stock was enjoying a strong bounce in after-hours action though after the company reported above-consensus quarterly results and a restructuring plan that calls for the elimination of 27,000 jobs, or 8% of its workforce. HP shares surged 5.7% to $22.27 on volume of more than 6 million in extended trades.
The PC and printer company reported second-quarter earnings on Wednesday after the close of $1.9 billion, or 98 cents a share, down from year-earlier earnings of $2.7 billion, or $1.24 a share.
Analysts, on average, anticipated earnings of 91 cents a share on revenue of $29.92 billion.
Intel shares fell 2.27% to $25.44. The stock has gained 4.91% year to date.
Shares of Microsoft fell 2.18% to $29.11. The stock has risen 12.13% year to date.
The biggest gainer in the blue-chip index was
Bank of America
. Shares increased 2.72% to $7.17.
The bank's stock has risen 28.96% year to date.
Though not the biggest gainer,
hit a 52-week high Wednesday of $63.97. The stock's 52-week low of $48.31 was set on Aug. 10.
The stock closed Wednesday up 1.33% to $64.58. Wal-Mart's stock has risen 8.07% year to date.
Written by Alexandra Zendrian in New York
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