Stocks End Down on Mixed Earnings

U.S. stocks closed lower on Wednesday as mixed earnings reports knocked markets away from record levels. The Dow Jones Industrial Average fell 54.33 points, or 0.35%, to close at 15,413.33. The S&P 500 Index finished the day down 8.29 points, or 0.47%, at 1,746.38. The Nasdaq Composite Index declined 22.50 points, or 0.57%,
to close at 3,907.07.

AT&T Inc. (T) reported a small gain in third-quarter earnings on Wednesday afternoon. For the period ended Sept. 30, AT&T reported net income of $3.8 billion, or 72 cents per share, compared to net income of $3.6 billion, or 63 cents per share, for the same period last year.

Angie’s List Inc. (ANGI) on Wednesday reported a third-quarter loss of $13.5 million, or 23 cents a share, on revenue of $65.5 million, compared to a loss of $18.5 million, or 32 cents a share, on $42 million in sales in the same period a year ago.

Higher taxes reduced US Airways’ third-quarter profit, but the airline still beat Wall Street expectations on a combination of more traffic and higher average fares. For the third quarter, US Airways Group Inc. said net income was $216 million, or $1.04 per share. That’s down 12 percent from $245 million, or $1.24 per share, a year earlier.