Latest Business News: US Stocks Edge Back From Record Levels

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Latest Business News: US Stocks Edge Back From Record Levels

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Latest Business News: US Stocks Edge Back From Record Levels

by Wochit 0:46 mins

Latest Business News: US Stocks Edge Back From Record Levels

by Wochit 0:46 mins

Stocks edged back from record levels in early trading, led by a slump in the technology sector after Microsoft and Google reported disappointing earnings. Microsoft fell sharply after the company wrote off $900 million for expected losses on its Surface tablet and reported declining revenues for its Windows operating system. Google dropped after it reported revenues that fell below analysts' forecasts, partly because the Internet search leader's ad prices took an unexpected turn for the worse. Citing sales gains in all of its markets, including Europe and North America, Whirlpool posted a stronger-than-expected jump in quarterly profit and raised its full-year outlook General Motors Co said it is recalling 843 2014 Chevrolet Silverado and GMC Sierra crew cab pickup trucks because the passenger airbag may not fully inflate in a crash. The automaker estimates it delivered more than 40,000 of the trucks to dealers, GM spokesman Alan Adler said. The company also said there have not been any known injuries or crashes related to the malfunctioning airbags.

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