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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.

Stocks were lower, though had recovered from session lows by the middle of the day. A disappointing outlook from General Electric Co.  (GE) - Get General Electric Company Report was the biggest drag on the Dow Jones Industrial Average, while Microsoft Corp.  (MSFT) - Get Microsoft Corporation Report losses weighed on the tech sector. eBay Inc. (EBAY) - Get eBay Inc. 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 Schlumberger NV 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 Colgate-Palmolive Company Report declined after a mixed quarter. CEO Ian Cook said "uncertainty in global markets and slowing category growth worldwide remain challenging."

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