GM, Philip Morris, Lockheed Martin, Verizon, and More

Major U.S. indexes edged lower at midday Tuesday after a mixed set of corporate earnings reports. The Dow, S&P 500, and Nasdaq all lost ground.

Lockheed Martin (LMT) shares fell as the aerospace and defense contractor missed third-quarter revenue estimates on a slowdown in sales of its F-35 fighter jet.

Shares Verizon Communications (VZ) slipped after the telecom giant also posted lower-than-expected revenue as wireless equipment sales dropped.

Genuine Parts (GPC) shares plunged after the automotive parts dealer’s profit came short of forecasts and it slashed its guidance on sluggish industrial demand and weakness in the European market. 

General Motors (GM) shares gained after the Big Three automaker reported results that beat estimates and boosted its outlook as it benefited from steady pricing and cost controls.

Philip Morris International (PM) shares gained as the tobacco company reported better-than-expected results and raised its guidance on strong demand for nicotine pouches.

German business software giant SAP’s (SAP) results exceeded forecasts as well, sending its U.S.-listed shares to a record high.

Oil futures rose, and gold prices climbed to all-time highs. The yield on the 10-year Treasury note advanced. The U.S. dollar was up on the euro, pound, and yen. Most major cryptocurrencies traded lower.