Sto­ryS­tocks

Daily Freeman (Kingston, NY) - - BUSINESS -

U.S. stocks slipped for the third con­sec­u­tive day Thurs­day as me­dia and de­fense com­pa­nies skid­ded. Ca­ble and TV com­pa­nies and pub­lish­ers sank, and in­dus­trial com­pa­nies like Raytheon and L-3 Com­mu­ni­ca­tions fell after re­port­ing weak re­sults. Bond prices fell and yields climbed. That helped banks, since they'll earn more from lend­ing as in­ter­est rates rise. It also sent high-div­i­dend stocks like util­i­ties and real es­tate com­pa­nies lower as bonds be­come more ap­peal­ing to in­vestors seek­ing in­come. News­pa­per com­pa­nies Tronc and Gan­nett fell sharply on news the two com­pa­nies were putting a pos­si­ble merger on hold.

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