Stocks are mostly lower; Lions Gate, Express sink after results miss estimates

The Associated Press
May 30, 2014 08:58 AM

NEW YORK, N.Y. - Stocks are drifting mostly lower a day after the market closed at another record high.

Lions Gate Entertainment and Express Inc. fell sharply after reporting results that fell short of what investors were looking for. Lions Gate slumped 12 per cent and Express fell 10 per cent.

The Dow Jones industrial average fell 19 points, or 0.1 per cent, to 16,679 as of noon Eastern time Friday.

The Standard & Poor's 500 index edged up a point to 1,921. The S&P 500 closed at a record high the day before.

The Nasdaq composite fell two points, less than 0.1 per cent, to 4,245.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.47 per cent.

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