Earnings season is in full swing, and a number of disappointing reports pushed big-name stocks lower this week. Giants IBM (NYSE:IBM), Coca-Cola (NYSE:KO), and McDonald's (NYSE:MCD) were the Dow Jones Industrial Average's (DJINDICES:^DJI) biggest losers, but somehow the index squeaked out a small gain for the week. The Dow was up 15 points, or 0.1%, and the S&P 500 (SNPINDEX:^GSPC) gained 5 points, or 0.3% on the week.
IBM was the most disappointing stock after posting a big earnings miss. Revenue fell 5% to $24.75 billion, which was much worse than expectations. Earnings per share grew slightly to $3.33, but the consensus estimate was $3.61 and the stock fell 6.9% for the week. The stock fell 6.9%, and its heavy weighting on the Dow held the index back this week.
McDonald's fell 4.1% after reporting an earnings miss as well. Third-quarter same-store-sales growth of 1.4% in Asia, the Middle East, and Africa of 1.4% was disappointing and limited the company's overall growth. Earnings of $1.32 per share were $0.04 short of estimates.
Coca-Cola dropped 2.2% after reporting that third-quarter revenue that rose just 1% to $12.34 billion. The result was slightly worse than expectations. Coke continued a theme of weak results by multinational companies that were hit by the strong dollar. When the dollar rises, it makes international sales appear lower, and both revenue and income take a hit as a result.
There was also a strange event this week. Google (NASDAQ: GOOG) accidentally released earnings a few hours early on Thursday, sending the market into a panic. Results were much worse than expected, and the stock fell nearly 10% after the release.
Fool contributor Travis Hoium has no positions in the stocks mentioned above. The Motley Fool owns shares of Google, IBM, and McDonald's. Motley Fool newsletter services recommend Google, IBM, Coca-Cola, and McDonald's. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.