Stocks Back Off Record Highs

U.S. stocks declined on Wednesday, with the Dow Jones Industrial Average retreating from the prior day’s record close, despite a stronger set of earnings reports than yesterday. The Dow fell 25.50 points, or 0.16%, to 15,542.24. The S&P 500 index fell 6.45 points, or 0.38%, to 1,685.94. The Nasdaq Composite was up 0.33 point, or 0.01%, at 3,579.60.

Facebook Inc’s revenue in the second quarter increased 53 percent, surpassing Wall Street targets, as the Internet company continued to grow its mobile ads business. Tt earned $333 million in net income, or 13 cents a share, versus a net loss of $157 million, or 8 cents a share, in the year ago period. Excluding certain items, Facebook said it earned 19 cents a share.

Visa Inc (NYS:V) reported a net profit in the third quarter, compared with a loss a year earlier, and the world’s largest credit and debit card network authorized a new $1.5 billion share buyback.The company’s net profit was $1.23 billion, or $1.88 per Class A share, compared with a net loss of $1.84 billion, or $2.74 per share, a year earlier.

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