Disappointing Earnings Lower Stocks (Bloomberg)
Investors exited the markets as earnings reports from various companies fell below expectations, resulting in the market closing down for the week. “Investors are taking cues from earnings releases,” Jim Russell, a senior equity strategist for U.S. Bank Wealth Management, said. “Just as important as fourth-quarter earnings are, many investors are watching for company guidance for signs on what early 2014 will bring. This year, we’ll see a tearing between winners and losers and we’ve seen that in this earnings season so far.”
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