By Yasin Ebrahim
Investing.com -- The Dow notched a third-straight day of gains Tuesday as investors weighed up a slew of quarterly results as the earnings season continued to gather pace.
Defense companies including Raytheon (NYSE: RTN ) Technologies Corp (NYSE: RTX ) and Lockheed Martin Corporation (NYSE: LMT ) also underpinned gains in the sector following the latter’s quarterly results that topped estimates.
Elsewhere on the earnings front, material maker 3M Company (NYSE: MMM ), a major dow component, slumped more than 6% after quarterly earnings missed estimates and the company flagging a slowdown demand announcing 2,500 layoffs.
Zions Bancorporation (NASDAQ: ZION ), meanwhile, closed more than 1% lower as its better-than-expected fourth-quarter earnings per share was offset by a gloomy outlook as CEO Harris Simmons said the bank was socking away more money to protect against a slowing economy.
The U.S. Justice Department filed a lawsuit against Google, alleging that the search-engine giant violated antitrust laws by abusing its monopoly in ad technology.
Chip stocks gave back some gains from a day earlier on struggles in Advanced Micro Devices (NASDAQ: AMD ) as Bernstein downgraded the chipmaker to market perform from outperform, citing weakness in the personal computer market and new parts markets.
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