US stocks were a mixed bag on Tuesday, with the Dow ending lower after a handful of uninspiring earnings reports while the Nasdaq closed near a record high following a proposed biotech merger. Travelers, DuPont and IBM shares weighed on the Dow Jones industrial average.
DuPont reported lower sales in all of its businesses and said a strong dollar would take a toll on its full-year earnings. IBM also mentioned currency effects when it reported a fall in revenue late on Monday. DuPont ended the session 2.95 percent lower at USD 70.69 and IBM fell 1.14 percent to USD 164.26.
The Nasdaq ended the day less than 35 points away from its March 2000 all-time closing high. Mylan shares rose 8.85 percent to end at USD 74.07 after Israeli drugmaker Teva made an unsolicited offer of USD 82 per share, in what could be the drug industry's largest takeover this year. Teva rose 1.37 percent. The Nasdaq Biotech index ended up 1.87 percent. Yum Brands and Broadcom gained about 4 percent each after they posted earnings that beat modest expectations.
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