Midday Report: Disappointing GE Outlook Weighs on Dow; eBay Meets Estimates

A disappointing outlook from General Electric Co. was the biggest drag on the Dow Jones Industrial Average.
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Stocks were lower, though had recovered from session lows by the middle of the day. A disappointing outlook from General Electric Co.  (GE) - Get Report was the biggest drag on the Dow Jones Industrial Average, while Microsoft Corp.  (MSFT) - Get Report losses weighed on the tech sector. eBay Inc. (EBAY) - Get Report fell after a quarterly performance that met estimates, but did not beat them. The online auction site anticipates adjusted third-quarter earnings no higher than 48 cents a share, matching consensus. Schlumberger Ltd. (SLB) - Get Report topped earnings and sales estimates and announced plans to buy a majority stake in Russia's Eurasia Drilling. The oil company also anticipates strong growth in North America in the second half of the year. Colgate-Palmolive Co. (CL) - Get Report declined after a mixed quarter. CEO Ian Cook said "uncertainty in global markets and slowing category growth worldwide remain challenging."