NEW YORK (AP) — Stocks are mixed on Wall Street in early trading Thursday after several companies reported disappointing results.
Home builder PulteGroup plunged $1.57, or 9 percent, to $16.88 after reporting a 14 percent plunge profits. Another major home builder, D.R. Horton, fell $1.77, or 8 percent, to $19.45.
Technology shares fared better. Facebook soared 27 percent after reporting earnings late Wednesday that easily beat the forecasts of Wall Street analysts as mobile ad revenue rose.
The Dow Jones industrial average was down 38 points, or 0.2 percent, at 15,503 after the first 45 minutes of trading Thursday.
The Standard & Poor’s 500 index little changed at 1,686. The Nasdaq composite was up 14 points, or 0.4 percent, at 3,594.
The yield on the 10-year Treasury note climbed to 2.62 percent from 2.59 percent the day before. The yield has risen sharply from 2.48 percent late last week. Investors worry when the benchmark interest rate rises quickly because they fear it could choke off a recovery in the housing market by causing mortgage rates to rise.
Among other stocks making big moves:
— Las Vegas Sands, a major casino operator, fell $1.25, or 2.3 percent, to $53.69 after reporting tepid growth in Las Vegas. Wall Street expected higher revenue and income from the company.
— Harley-Davidson jumped $2.99, or 5.4 percent, to $58.80 after the Milwaukee-based motorcycle maker’s earnings rose 10 percent in the second quarter, driven by an aggressive expansion abroad and revamped production.
— Visa rose $2.48, or 4 percent, to $63.87. Visa returned to profitability in its third fiscal quarter and reported strong revenue growth as the company processed more transactions worldwide.