November 13, 2014 / 7:43 PM / 4 years ago

REFILE-US STOCKS-Energy weighs on Wall Street as crude tumbles

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* Wal-Mart climbs after results

* Blackberry up after partnerships announcement

* Dow flat, S&P off 0.3 pct, Nasdaq off 0.15 pct

By Rodrigo Campos

NEW YORK, Nov 13 (Reuters) - Energy shares fell their most in a month Thursday as crude prices slid, dragging on Wall Street despite gains in Wal-Mart and other consumer stocks.

The Dow and S&P 500 earlier hit intraday highs, with Wal-Mart and Apple at all-time records.

Wal-Mart rose 4.2 percent to $82.50 after posting a 2.9 percent increase in third-quarter revenue. It earlier hit a high of $82.85.

Apple rose as high as $113.45 to a fresh record while Microsoft, up 1.2 percent at $49.35, swelled to a market cap above $407 billion and overtook Exxon Mobil as the second-largest publicly traded U.S. company, behind Apple.

Exxon fell 1.5 percent to $93.93 as the largest weight on the S&P 500 energy sector, which fell 2.7 percent. Brent crude fell to $78 a barrel while U.S. crude tumbled 3 percent to $74.84, both at their lowest in more than four years.

Despite the fall in energy prices, gains in consumer stocks were small. Discretionary items are expected to see increased demand as lower gasoline costs free cash from consumers.

“They should be and they will be,” said Art Hogan, chief market strategist at Wunderlich Securities in New York, about those stocks going higher.

The Dow Jones industrial average fell 5.78 points, or 0.03 percent, to 17,606.42, the S&P 500 lost 6.57 points, or 0.32 percent, to 2,031.68 and the Nasdaq Composite dropped 6.85 points, or 0.15 percent, to 4,668.28.

The S&P 500 has rallied more than 9 percent from a six-month low in October, buoyed by supportive economic data and corporate earnings.

J.C. Penney shares tumbled 8 percent to $7.14 after it reported a smaller-than-expected quarterly loss Wednesday but said same-store sales were flat and slightly cut its full-year revenue forecast.

Thomson Reuters data showed that of 460 companies in the S&P 500 reporting so far, 74.6 percent beat expectations, above the 63 percent average beat rate since 1994 and 67 percent for the past four quarters. Earnings overall were expected to grow 10.1 percent over the year-ago period.

DreamWorks Animation shares jumped 12.3 percent to $25.13 after the New York Times said toymaker Hasbro Inc was in talks to buy the Hollywood studio. Hasbro shares lost 4.8 percent to $54.70.

U.S.-traded Blackberry shares jumped 7.9 percent to $12.16 after it unveiled its new mobile-device management and security platform and struck wide-ranging partnerships.

Editing by Bernadette Baum

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