S&P 500 Falls as GE, Intel Earnings Disappoint Investors
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Most U.S. stocks retreated, dragging the Standard & Poor’s 500 Index lower for the week, as earnings from companies including General Electric Co. to Intel Corp. disappointed investors.
General Electric lost 2.3 percent as margins at its manufacturing units fell short of projections. Intel dropped 2.6 percent as its revenue forecast raised concern the personal-computer market is struggling to grow. United Parcel Service Inc. slid 0.6 percent as it projected earnings below analysts’ estimates. American Express Co. climbed 3.6 percent after reporting fourth-quarter profit doubled.