U.S. markets continued to tumble in January on disappointing earnings from major companies. AT&T, Boeing and Yahoo! all fell in Wednesday trading as their quarterly earnings failed to impress investors. The S&P 500 dropped 1.02 percent to close at 1,774.20. The index is on pace for its worst month since May 2012, the S&P 500 posted a gain of 5.0 percent last January. Additionally, the Federal Reserve has announced plans to cut its monthly bond purchases by an additional $10 billion to $65 billion.
The Boeing Company (NYSE: BA) shares traded in the range of $128.07 to $131.76 Wednesday before settling to close at $129.78, a decrease of 5.33 percent. The stock appears to be facing some resistance at the $131.43 and $134.02 levels with some support at $123.67. Despite reporting a 26.0 percent rise in net income, shares of the company fell as its 2014 outlook fell short of expectations. Shares of Boeing are down approximately 5.0 percent year-to-date.
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Facebook Inc. (NASDAQ: FB) shares soared 12.0 percent to $60.04 in afterhours trading Wednesday. The company reported a net income of $780 million on $2.6 billion in revenue for the fourth quarter of 2013, which topped analysts’ estimates of a net income of $703.5 million on $2.3 billion in revenue, according to analysts’ surveyed by Thomson Reuters.
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Las Vegas Sands Corp. (NYSE: LVS) shares traded in the range of $73.53 to $75.20 Wednesday before settling to close at $73.93, a decrease of 1.77 percent. The stock appears to be facing some resistance at the $76.59 and $79.49 levels with some support at $73.23. The company reported record net revenues of $3.66 billion for the fourth quarter of 2013, an increase of 18.8 percent year-over-year. Shares of Las Vegas Sands have fallen approximately 5.0 percent year-to-date.
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WellPoint, Inc. (NYSE: WLP) shares traded in the range of $81.84 to $87.75 Wednesday before settling to close at $85.37, an increase of 1.27 percent. The stock appears to be facing some resistance at the $86.80 and $87.67 levels with some support at $85.09. The company reported earnings of $148.2 million, or $0.49 per share, for the fourth quarter of 2013, down from $464.2 million, or $1.51 per share, a year ago. Shares of WellPoint have fallen approximately 8.0 percent year-to-date.
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