The Standard & Poor's 500 index slid lower on Wednesday, pulled down by Cognizant Technology Solutions Corp., Countrywide Financial Corp. and DR Horton Inc.
The S&P 500 lost 7.20 points to 1,411.31.
Cognizant Technology said its first-quarter profit rose 35 percent to $101.9 million, but the information technology and outsourcing said it expects its second-quarter results to miss analyst estimates. Shares lost $2.78, or 8.2 percent, to $30.97.
Countrywide, which is under investigation for allegations that it inflated certain borrowers' fees, said late Tuesday its employees made errors, and will hire an outside auditor to review its actions in cases involving homeowners who filed for bankruptcy.
Shares of the mortgage lender lost 25 cents, to 4.7 percent, to $5.09.
Shares of DR Horton, one of the largest homebuilders, lost 80 cents to $16.05 after the National Association of Realtors' said pending U.S. home sales fell to a new low in March.
Among the gainers, Titanium Metals Corp. said its first-quarter profit rose to $76.4 million, or 41 cents per share, beating Wall Street estimates. Shares of the metals company soared $2.24, or 14.1 percent, to $18.08.
Pitney Bowes Inc. said late Tuesday its first-quarter profit fell, but the mail and document-managing company reaffirmed its full-year outlook. The stock gained $2.26, or 6.2 percent, to $38.91.
And American Capital Strategies Inc. posted a first-quarter loss late Tuesday but reaffirmed its full-year guidance. Shares of the investment company added $1.44, or 4.7 percent, to $31.98.
Terms & Conditions
RSS Headlines
Fool UK