BUZZ-U.S. Stocks on the Move-Google, Zix, Dean, Biogen, Boeing
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U.S. stocks turned lower in afternoon trading on Wednesday, with major indexes erasing earlier gains as both Boeing and Biogen sold off following their results. The Dow Jones industrial average was down 0.66 percent at 16,505.38, the S&P 500 was down 0.41 percent at 1,933.32 and the Nasdaq Composite was down 0.44 percent at 4,399.87.
** BOEING CO, $121.77, -4.21 pct
The aircraft maker's third-quarter operating margin in its commercial aircraft unit fell to 11.2 percent from 11.6 percent, reflecting the effect of deliveries of lower-margin 787 and 747 aircraft
Analysts expressed concerns over signs of a rise in costs for the company's 787 Dreamliner. A relatively small increase in Boeing's full-year cash flow outlook and higher deferred production costs for the 787 "will increase the bear calls," Sterne Agee analyst Peter Arment said.
Graphic on Boeing's earnings (link.reuters.com/xud33w)
** BIOGEN IDEC, $309.15, -5.39 pct Continued...