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."
Scroll to Continue