US stocks : Dow off 0.1 pct

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Reuters: New York, Feb 01 2013, 02:51 IST
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as the top boost to the Nasdaq Composite after the world's leading supplier of chips for cellphones beat analysts' expectations for quarterly profit and revenue and raised its targets for the year.

Facebook shares fell 0.8 percent to $31.01 after falling as low as $28.74 a day after the social network company said it doubled its mobile advertising revenue in the fourth quarter. However, growth trailed some of Wall Street's most aggressive estimates.

The Dow Jones industrial average was down 7.50 points, or 0.05 percent, at 13,902.92. The Standard & Poor's 500 Index was up 0.36 points, or 0.02 percent, at 1,502.32. The Nasdaq Composite Index was up 6.99 points, or 0.22 percent, at 3,149.29.

The S&P 500 has advanced more than 5 percent in January after legislators in Washington temporarily sidestepped a "fiscal cliff" of automatic tax increases and spending cuts that could have derailed the recovery. Better-than-expected corporate earnings have added to the gains.

It would be the benchmark's largest monthly advance since a more than 6 percent gain in October 2011 and the best January advance since a 6.1 percent jump in 1997.

UPS shares lost 2.1 percent to $79.50 after reporting fourth-quarter earnings that were below analysts' estimates on Thursday and forecasting weaker-than-expected profit for 2013.

Constellation Brands shares tumbled 16.4 percent to $32.72 after the U.S. Justice Department moved to stop Anheuser-Busch InBev from buying the half of Mexican brewer Grupo Modelo that it does not already own. Constellation would have distributed Corona beer in the United States if

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