Stocks Tumbled, Dow in Triple-Digit Loss
- Tuesday, August 5, 2014, 16:55
- Stock Market
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U.S. stocks ended sharply lower on Tuesday on increased concern about possible escalation of military
action in eastern Ukrain. The Dow Jones industrial average fell 139.81.13 points, or 0.84%, to 16,429.47. The S&P 500 lost 18.78 points, or 0.97%, to 1,920.21. The Nasdaq Composite dropped 31.05 points, or 0.71 percent, to 4,352.83.
Groupon Inc. (GRPN) reported its second-quarter results that missed analysts’ forecasts. Groupon said
it lost $22.9 million, or 3 cents a share, on revenue of $751.6 million. During the same period a year ago, Groupon lost $7.8 million, or a penny a share, on $608.7 million in sales.
Walt Disney Co. (DIS) on Tuesday reported a DIS -0.01% on Tuesday reported a fiscal third-quarter profit of $2.25 billion, or $1.28 a share, compared with a profit of $1.85 billion, or $1.01 share, for the year-earlier period. Revenue rose to $12.47 billion from $11.58 billion.
McLean-based Gannett on Tuesday said that it plans to split into two publicly-traded companies, an action that follows similar shake-ups at other major media companies as they grapple with a changing landscape in the news business.
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