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The Honolulu Advertiser
Posted on: Wednesday, January 14, 2009

Markets close mixed amid concerns about earnings

Associated Press

NEW YORK — Wall Street's growing angst about company earnings gave stocks a mixed finish yesterday, with the Dow Jones industrials suffering their fifth straight loss. The broader market indicators closed modestly higher.

The concern on the Street is that the recession will have a more severe impact on profits than investors have been anticipating. Questions about earnings — in particular companies' expectations for business this year — are likely to dominate trading in the coming weeks. Computer chip maker Intel Corp. and drug company Genentech Inc. are among the companies reporting results this week.