Stock Ended Lower after Mixed Earnings

U.S. stocks ended lower on Tuesday, as mixed earnings results drag markets lower. The Dow Jones Industrial Average dropped 113.64 points, or 0.55%, to 20,523.28. The S&P 500 fell 6.82 points, or 0.29%, to 2,342.19. The Nasdaq Composite lost 7.32 points, or 0.12%, to 5,849.47.

Oil ended lower Tuesday amid concerns about further growth in U.S. output, but signs that Saudi Arabia and Russia are sticking to their pledge to cut crude production kept losses in check. May West Texas Intermediate crude fell 24 cents, or 0.5%, to settle at $52.41 a barrel. June Brent crude fell by 47 cents, or 0.9%, to $54.89 a barrel.

IBM Corp. (IBM) reported first-quarter net income of $1.75 million, or $1.85 a share, compared with $2 billion, or $2.09 a share, in the year-earlier period. Revenue for the three-month period fell to $18.16 billion from $18.7 billion last year.

Yahoo Inc. (YHOO) reported net income of $99.4 million, or 10 cents a share, on total revenue of $1.33 billion. After adjusting profit for stock-based compensation and removing traffic-acquisition costs from revenue, Yahoo reported earnings of 18 cents a share on sales of $833.8 million.