U.S. stocks trade mixed on weaker-than-expected corporate profits
2008-04-21 22:31:43 Xinhua English
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NEW YORK, April 21 (Xinhua) -- U.S. stocks traded mixed Monday on weaker-than-expected corporate profits.
Bank of America reported that its first-quarter earnings fell 77 percent on write-downs and widening credit losses.
Shares of National City dropped after the Midwest bank said it got a 7 billion U.S. dollar cash infusion from equity investors, lowered its dividend and posted a 171 million dollar loss for the first quarter.
The Dow Jones average fell 24.34, or 0.19 percent, to 12,825.02.The Standard & Poor's 500 index fell 2.16, or 0.16 percent, to 1,388.17, while the Nasdaq composite index rose 5.07, or 0.21 percent, to 2,408.04.
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