New York (AFP) - Wall Street stocks finished a banner October on a down note Friday, as shares of Canadian pharmaceutical company Valeant plunged again.
The Dow Jones Industrial Average ended at 17,663.54, down 92.26 points (0.52 percent) for the day, but up 8.5 percent for October.
The broad-based S&P 500 dropped 10.05 (0.48 percent) to 2,079.36, while the tech-rich Nasdaq Composite Index fell 20.53 (0.40 percent) to 5,053.75
Peter Cardillo, chief market economist at Rockwell Global Capital, said US stocks were "consolidating" after the October equity surge and ahead of the monthly jobs report and other key data next week.
Valeant Pharmaceuticals International slumped 15.9 percent as it announced it was severing ties with mail-order pharmacy Philidor RX, which has been criticized for predatory pricing of drugs.
Dow members ExxonMobil and Chevron rose by 0.6 percent and 1.1 percent respectively after reporting earnings that were much lower than a year ago, but still better than expectations. Both companies said they were cutting capital spending due to lower oil prices.
Baidu, China's answer to Google, surged 10.9 percent despite a slump in profit as earnings per share came in 12 percent over expectations and the company said it expects a new travel services partnership to help drive future revenue.
CVS Health fell 4.8 percent on disappointment over the pharmacy chain's 2016 outlook. Credit Suisse said the projections for 10-14 percent earnings-per-share growth suggests "momentum has slowed."
Drugmaker AbbVie bolted 10.1 percent higher as third-quarter net income more than doubled to $1.2 billion due to strong sales of the arthritis medicine Humira and other drugs.
Online travel site Expedia jumped 7.3 percent as third-quarter net income rose 7.6 percent to $283.2 million behind higher booking and advertising revenues.
Online professional networking site LinkedIn surged 11.0 percent on a 37.2 percent rise in third-quarter revenues to $779.6 million.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.14 percent from 2.18 percent Thursday, while the 30-year dropped to 2.93 percent from 2.96 percent. Bond prices and yields move inversely.