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A weak open for US stocks after several companies including IBM report weak results

NEW YORK, N.Y. – U.S. stocks are opening lower after several companies reported weak results.

The early declines Tuesday came after three straight gains for the market.

IBM sank 5 per cent after reporting revenue that fell short of what analysts were expecting. Verizon and United Technologies also posted revenue that didn’t meet forecasts.

Harley-Davidson jumped 4 per cent after its earnings beat estimates.

The Dow Jones industrial average was down 124 points, or 0.7 per cent, to 17,971 as of 9:35 a.m. Eastern time.

The Standard & Poor’s 500 index gave up two points, or 0.1 per cent, to 2,125. The Nasdaq composite declined seven points, or 0.1 per cent, to 5,211.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.38 per cent.