Stocks Closed Mixed, Dow Dragged by Earnings

.S. stocks closed mixed on Tuesday as disappointing results from Verizon Communications, Inc., The Travelers Companies, Inc. and Johnson & Johnson weighed on the Dow. The Dow Jones Industrial Average fell 44.12 points, or 0.27%, at 16,414.44. The S&P 500 was up 5.10 points, or 0.28%, to 1,843.80. The Nasdaq Composite gained 28.18 points, or 0.67%, to 4,225.76.

Verizon Communications reported quarterly earnings this morning. Revenue was up 3.5% to $31.1 billion and net income was $5.07 billion, or $1.76 per share.

The Travelers Companies, Inc. reported net income of $988 million, or $2.70 per diluted share, for the quarter ended
December 31, 2013, compared to $304 million, or $0.78 per diluted share, in the prior year quarter.

Johnson & Johnson (JNJ) reported fourth-quarter results. While the quarterly earnings per share were above analyst
expectations, the full-year outlook disappointed investors.

IBM Corp. (IBM) on Tuesday reported a fourth-quarter profit of $6.2 billion, or $5.73 a share, on $27.7 billion in
revenue. During the same period in 2012, IBM earned $5.83 billion, or $5.13 a share, on revenue of $29.3 billion. IBM
also reported an operating profit of $6.13 a share.

Canadian aeronautics company Bombardier said Tuesday it is eliminating 1,700 jobs in Canada and the United States, only days after announcing it would delay the launch of its CSeries aircraft.