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1st LD Writethru: U.S. stocks end mildly lower amid earnings reports

Xinhua, August 5, 2015 Adjust font size:

U.S. stocks declined for the third straight session on Tuesday as investors digested a batch of corporate earnings reports.

The Dow Jones Industrial Average decreased 47.51 points, or 0. 27 percent, to 17,550.69. The S&P 500 lost 4.72 points, or 0.22 percent, to 2,093.32. The Nasdaq Composite Index dipped 9.84 points, or 0.19 percent, to 5,105.55.

Coach Inc. jumped 3.22 percent to 31.41 U.S. dollars apiece on Tuesday after reporting better-than-expected quarterly earnings.

The luxury accessories maker reported net sales of 1 billion dollars for its fourth fiscal quarter ending June 27, 2015. Net income for the quarter totaled 85 million dollars, with earnings per diluted share of 0.31 dollar.

CVS Health Corporation posted net revenues of 37.2 billion dollars for the three months ending June 30, 2015, an increase of 7.4 percent from the same period a year ago, roughly in line with market expectations.

Its shares dipped 2.54 percent to 109.96 dollars apiece on Tuesday as the U.S. drugstore operator gave a soft earnings outlook for its current quarter.

Latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the second quarter of 2015 are expected to increase 1.1 percent year on year, while the revenue is forecast to decline 3.4 percent.

A total of 391 companies in the S&P 500 have reported earnings for second quarter 2015 to date.

On the economic front, U.S. new orders for manufactured goods in June increased 8.7 billion U.S. dollars or 1.8 percent to 478.5 billion dollars, slightly above market estimates, said the Commerce Department Tuesday. This increase, after two consecutive monthly decreases, followed a 1.1-percent May decrease.

Investors will also keep a close eye on Friday's nonfarm- payrolls report for any further clues on the Federal Reserve's first rate hike in almost nine years.

Overseas, Chinese equities ended a three-day losing streak on Tuesday amid new rules restricting short selling, with the benchmark Shanghai Composite Index surging 3.69 percent. Endite