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Stocks sag in midday trading

U.S. stocks are slightly lower in midday trading, giving back some of a big gain from the day before.

Several companies were slipped Wednesday after delivering disappointing forecasts.

Agribusiness giant Monsanto dropped 7 percent after cutting its outlook, and spirits maker Brown-Forman, whose brands include Jack Daniels, fell 3 percent after lowering its guidance.

The Dow Jones industrial average slipped 42 points, or 0.3 percent, to 16,822 as of 11:55 am.

The Standard & Poor’s 500 index fell five points, or 0.3 percent, to 1,973. The Nasdaq composite edged down 21 points, or 0.5 percent, to 4,669.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.86 percent.


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