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US stocks open lower after IBM, others report weak results

A businessman walks by an electronic board displaying Japan's Nikkei 225 index in Tokyo, Tuesday, July 21, 2015. Most Asian stock markets were modestly higher Tuesday after positive U.S. earnings reports boosted sentiment. (AP Photo/Ken Aragaki)

NEW YORK (AP) — U.S. stocks are opening lower after several companies reported weak results.

The early declines Tuesday came after three straight gains for the market.

IBM sank 5 percent after reporting revenue that fell short of what analysts were expecting. Verizon and United Technologies also posted revenue that didn’t meet forecasts.

Harley-Davidson jumped 4 percent after its earnings beat estimates.

The Dow Jones industrial average was down 124 points, or 0.7 percent, to 17,971 as of 9:35 a.m. Eastern time.

The Standard & Poor’s 500 index gave up two points, or 0.1 percent, to 2,125. The Nasdaq composite declined seven points, or 0.1 percent, to 5,211.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.38 percent.

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