NEW YORK, April 25 (Xinhua) -- U.S. stocks opened mixed on Thursday, as U.S. industrial giant 3M's grim quarterly earnings struck a blow on the Dow, while the tech-heavy Nasdaq was powered by robust earnings from Facebook and Microsoft.
Shortly after the opening bell, the Dow Jones Industrial Average fell 202.68 points, or 0.76 percent, to 26,394.37. The S&P 500 was down 2.44 points, or 0.08 percent, to 2,924.81. The Nasdaq Composite Index increased 44.43 points, or 0.55 percent, to 8,146.45.
Shares of 3M plunged over 10 percent, after its first-quarter earnings missed market estimates. The manufacturing conglomerate also slashed its full-year guidance as it fared worse in key markets.
The trade-sensitive company also announced it will cut around 2,000 jobs across the world, in a bid to restructure its business operations.
Yet shares of Comcast rose nearly 2.5 percent, following its latest quarterly profit that blew past analysts' expectations, despite a weaker-than-expected revenue.
Shares of Facebook and Microsoft rallied over 7 percent and over 4.3 percent respectively, after the two tech heavyweights both reported stronger-than-expected first-quarter earnings after market close on Wednesday.
Nine of the 11 primary S&P 500 sectors traded lower around Thursday's opening, with the industrials sector down nearly 2 percent, leading the losers.
On the economic front, new orders for manufactured durable goods in March increased 6.8 billion U.S. dollars, or 2.7 percent, to 258.5 billion dollars, the U.S. Census Bureau said Thursday.
This increase marks a rebound from a 1.1-percent decrease in February and is the biggest one since last summer, which was boosted by stronger demand for autos, planes and networking equipment.
