Business

Wall Street falls on earnings reports

NYSE traders Image copyright Getty Images

(Close): US markets fell on Thursday following mixed earnings results and a warning from Verizon that an ongoing strike would hurt its profits.

The Dow Jones fell 113.75 points to 17982.52, and the S&P 500 dipped 10.92 points to 2091.48.

The tech-heavy Nasdaq index edged downward 2.24 points to 4945.89.

Shares of Verizon fell 3.5% after the company said its second quarter results would probably be hit by a strike involving 40,000 workers.

American Express rose 1% after it reported a 1.7% rise in total revenue to $8.09bn in the three months to March, its first rise in quarterly revenue for five quarters.

Sportswear company Under Armour saw its share price climb 6.8% after reporting quarterly profit rose 30% year-over-year.

But shares in toymaker Mattel fell 5.8% after it said net losses had widened to $73m in the first quarter of the year, compared with a loss of $58.2m a year earlier. Sales of Mattel's famous Barbie dolls were down 3.4%.