NEW YORK, Aug 5: US stocks declined for the third straight session on Tuesday as investors digested a batch of corporate earnings reports.
The Dow Jones Industrial Average decreased 47.51 points, or 0. 27 per cent, to 17,550.69. The S&P 500 lost 4.72 points, or 0.22 per cent, to 2,093.32. The Nasdaq Composite Index dipped 9.84 points, or 0.19 per cent, to 5,105.55.
Coach Inc. jumped 3.22 per cent to 31.41 U.S. dollars apiece on Tuesday after reporting better-than-expected quarterly earnings.
The luxury accessories maker reported net sales of 1 billion dollars for its fourth fiscal quarter ending June 27, 2015. Net income for the quarter totaled 85 million dollars, with earnings per diluted share of 0.31 dollar.
CVS Health Corporation posted net revenues of 37.2 billion dollars for the three months ending June 30, 2015, an increase of 7.4 per cent from the same period a year ago, roughly in line with market expectations.
Its shares dipped 2.54 per cent to 109.96 dollars apiece on Tuesday as the U.S. drugstore operator gave a soft earnings outlook for its current quarter.
Latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the second quarter of 2015 are expected to increase 1.1 per cent year on year, while the revenue is forecast to decline 3.4 per cent. ?Agencies