US stocks mostly rise as Fed keeps interest rates unchanged

NEW YORK — US stocks are mostly higher yesterday afternoon after the Federal Reserve left its key interest rate unchanged. Technology companies are sliding following weak results from Apple and Twitter. Energy companies are rising with oil prices, and utility and telecommunications companies are moving higher as bond yields fall.

KEEPING SCORE: The Dow Jones industrial average picked up 45 points, or 0.3 percent, to 18,035 as of 3 p.m. The Standard & Poor's 500 index rose 2 points, or 0.1 percent, to 2,093. The Nasdaq composite index dropped 41 points, or 0.8 percent, to 4,847.

FED: As expected, the Federal Reserve left its benchmark interest rate unchanged at its April meeting. The central bank said the US economy seems to have slowed in the last month, but job market conditions are getting better.

The Fed also suggested it is getting less concerned about the effects of the slowing global economy on the US

TECH TROUNCED: Apple fell $6.35, or 6.1 percent, to $98 after reporting its first decline in iPhone sales. Apple also reported its first decline in quarterly revenue since 2003 and forecast similar results in the current quarter. Twitter dropped $2.79, or 15.7 percent, to $14.96. The company's first-quarter revenue fell short of expectations and its guidance disappointed investors.

OIL PRICES: The price of crude oil has wavered throughout the day, but it currently trading at its highest price in almost six months. Benchmark US crude oil rose $1.29, or 2.9 percent, to close at $45.33 a barrel in New York. Brent crude, the international standard, added $1.44, or 3.1 percent, to $47.18 a barrel in London.

Anadarko Petroleum added $2.67, or 5.1 percent, to $55.03 and Diamond Offshore Drilling gained $1.05, or 4.4 percent, to $24.70.

TAKE HEART: Medical device maker Boston Scientific climbed $2.10, or 10.7 percent, to $21.79 after it swung to a profit in the first quarter, and earnings and sales were better than expected. It also raised its projections for the year.

OUT TO LUNCH: Buffalo Wild Wings tumbled $16.10, or 11.1 percent, to $128.52 after the chain's sales fell short of analyst projections. Chipotle Mexican Grill fell $26.91, or 6 percent, to $419.01. Chipotle posted its first loss as a public company as sales plunged following an E. coli outbreak and Norovirus scare.

POWER PLAY: Telecommunications and utility companies rose as bond prices rose, bringing their yields lower. That made the stocks more appealing to investors seeking income. Verizon Communications gained $1.15, or 2.3 percent, to $51.59. NRG Energy added 46 cents, or 3.1 percent, to $15.01.

The yield on the 10-year US Treasury note fell to 1.87 percent from 1.93 percent.

EBAY EXCITEMENT: E-commerce company eBay's profit and sales were greater than expected, and it gave solid projections for the current quarter. The stock rose 81 cents, or 3.3 percent, to $25.30.

TAKEOFF: Aerospace giant Boeing helped pull the Dow higher. The company reported mixed first-quarter results, with weaker-than-expected earnings but strong sales. The stock rose $4, or 3 percent, to $137.24.

DREAMING OF A DEAL: DreamWorks Animation rocketed $4.71, or 17.4 percent, to $31.83 on reports the company behind the "Shrek" and "Kung Fu Panda" franchises might be acquired by Comcast. Comcast stock rose 41 cents to $61.46.

HALF IS CUT: Staffing company Robert Half International posted solid results, but its stock tumbled after saying revenue growth for some of its business slowed down over the last few months. The stock declined $5.77, or 12.9 percent, to $38.83.

OFF ROAD: Trucking company C.H. Robinson Worldwide slid $4.41, or 5.8 percent, to $71.30 after its first-quarter revenue fell far short of expectations.

FLAGS FLYING: Amusement park operator Six Flags Entertainment jumped after it reported far more revenue than analysts expected. The company said attendance climbed 37 percent in the first quarter. Its stock advanced $2.67, or 4.6 percent, to $61.32.

YAHOO TURNS TO STARBOARD: Struggling Internet company Yahoo will add four directors backed by activist investment firm Starboard Value to its board. That ends a potential proxy fight between Yahoo and Starboard. The new directors include Starboard CEO Jeffrey Smith. Two current Yahoo directors won't run for new terms. Yahoo stock lost 22 cents to $36.89.

METALS: The price of gold rose $7 to $1,250.40 an ounce. Silver gained 18 cents, or 1 percent, to $17.29 an ounce. Copper fell 3 cents, or 1.1 percent, to $2.22 a pound.

OVERSEAS: The CAC-40 in France finished 0.6 percent higher, and the Britain's FTSE 100 was also up 0.6 percent. Germany's DAX rose 0.4 percent. Japan's benchmark Nikkei 225 closed 0.4 percent lower. Hong Kong's Hang Seng fell 0.2 percent.

CURRENCIES: The dollar rose to 111.50 yen from 111.41 yen. The euro rose to $1.1317 from $1.1291.