Category: Companies / April 18, 2013 3:50 PM EDT
Earnings reports from EBay (EBAY) and UnitedHealth Group (UNH) weighed on U.S. stocks early in the session. Jobless claims also weighed on the market as the number of Americans filing new claims for unemployment benefits rose in the prior week.
A separate report showed that manufacturing in the Philadelphia region expanded in April at a slower pace than projected as fewer orders prompted managers cut back on hiring and inventories.
Other earnings releases for Thursday showed Verizon Communications (VZ) gained as growth in wireless customers helped profit beat estimates, while PepsiCo (PEP) surprised investors after sales increased.
Morgan Stanley beat expectations but saw its core results weaken from last year.
After the bell on Thursday, Google (GOOG) and Microsoft (MSFT) are scheduled to report results.
The search giant beat expectations last quarter and investors will we watching to see if its results will impress. Microsoft first-quarter profit is expected to rise 13.3 percent despite declining PC sales.
Earning to watch for on Friday include GE (GE), McDonald’s (MCD), Honeywell (HON) and Baker Hughes (BHI). Analysts forecast that General Electric’s sale of NBC Universal will likely boost the company to strong first quarter earnings, while weaker sales could hut McDonald’s earnings.
(Video Source: REUTERS)