Tuesday, October 23, 2012

POOR EARNINGS: STOCKS PLUNGE AT OPEN...

DuPont slumped sharply after the chemical company reported a profit that fell short of expectations and announced 1,500 layoffs in an aggressive cost-cutting move....

Fellow Dow component United Technologies reported a decline in third-quarter earnings and cut its sales forecast for the year, citing weak demand from airlines and an uncertain economy.

Also, 3M reported earnings that matched estimates, but revenue was lighter than expected, sending shares of the conglomerate lower....