S&P, Nasdaq End Lower on Disappointing Earnings

U.S. stocks closed mostly lower on Friday as disappointing results from Intel Corp. and General Electric Co.
weighed on sentiment. The Dow Jones Industrial Average closed 41.55 points, or 0.25%, higher at 16,458.56. The
blue-chip index added 0.1% over the week. The S&P 500 finished the day down 7.19 points, or 0.39%, to 1,838.70 and was 0.2% lower for the week. The Nasdaq Composite shed 21.11 points, or 0.50%, to 4,197.58 but eked out a 0.6% weekly gain.

Intel Corp plans to reduce its global workforce of 107,000 by about 5 percent this year as the chipmaker,
struggling with falling personal-computer sales, shifts focus to faster-growing areas, a company spokesman said on
Friday.

General Electric Co (GE) posted a slightly better-than-expected rise in revenue on Friday. Its quarterly net
earnings rose to $4.2 billion, or 41 cents per share, from $4.01 billion, or 38 cents a share, a year earlier.

United Parcel Service Inc. (UPS:US) reported preliminary fourth-quarter earnings that trailed analysts’ estimates.
Earnings per share will be $1.25 in the quarter, the company said in a statement, falling short of a $1.43 average
estimate (UPS:US) from 26 analysts.

Freedom Industries, the chemical company behind the toxic leak that tainted West Virginia’s Elk River and forced
300,000 state residents and businesses to go without water for several days, filed for bankruptcy protection
Friday.