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US stocks flat as 21st Century Fox, Tesla fall

AFP

US stocks opened little changed Thursday, as big declines in 21st Century Fox, Tesla Motors and some other companies following earnings reports halted the market's advance.

Five minutes into trade, the Dow Jones Industrial Average was at 17,535.46, down 5.01 points (0.03 percent).

The broad-based S&P 500 added 0.94 (0.04 percent) at 2,100.78, while the tech-rich Nasdaq Composite Index shed 1.04 (0.02 percent) at 5,138.90.

Twenty-First Century Fox fell 6.3 percent after reporting that earnings for the quarter ending June 30 plunged 91 percent to $87 million on weaker film revenue and a number of one-time charges.

Tesla tumbled 7.3 percent as it reported a second-quarter loss of $184 million and forecast deliveries of 50,000-55,000 electric cars in 2015, down a bit from the previous projection for 55,000 deliveries.