stocks Fall as Earnings Ding Sentiment

U.S. stocks started lower on Thursday, as investors digested the latest batch of corporate earnings. The Dow Jones
Industrial Average lately fell 63.32 points, or 0.38%, to 16,418.62. The S&P 500 lost 5.04 points, or 0.27%, to
1,843.34. The Nasdaq Composite fell 8.11 points, or 0.19%, to 4,206.77.

Citigroup said fourth-quarter profit more than doubled, but still fell short of analysts’ forecasts on weakness in
new mortgage loans and weak revenues from bond trading. It earned $2.7 billion, or $0.85 per share, on revenues of
$17.8 billion. This compared to net income of $1.2 billion, or $0.38 per diluted share, on revenues of $17.9
billion for the fourth quarter 2012.

Best Buy Co Inc said on Thursday that total revenue and sales at its established U.S stores fell in the all-
important holiday season due to intense discounting by rivals, supply constraints for key products and weak
traffic in December.Total revenue fell about 2.6 percent to $11.45 billion in the nine-week period.

Goldman Sachs Group Inc reported a 21 percent drop in quarterly profit as revenue from fixed-income trading fell.
Net income applicable to common shareholders fell to $2.25 billion (1.37 billion pounds), or $4.60 per share, in
the fourth quarter from $2.83 billion, or $5.60 per share, in the same quarter of 2012.

The number of Americans filing new claims for unemployment benefits fell for a second week last week. Initial
claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 326,000, the Labor Department said.

U.S. consumer prices rose a seasonally adjusted 0.3% in December, led by higher energy and shelter costs, the
Labor Department said Thursday.

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