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Apr 21, 4:08 PM EDT

The stock market is closing slightly lower, led by declines in phone companies, banks and health care providers


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The latest on developments in financial markets (All times local):

4:00 p.m.

The stock market is closing slightly lower led by declines in phone companies, banks and health care providers.

Verizon slumped 2.3 percent Friday, while Bank of America lost 1.6 percent.

In earnings news, Mattel nosedived 13.6 percent after the struggling toy maker reported a big drop in sales.

The Standard & Poor's 500 index fell 7 points, or 0.3 percent, to 2,348.

The Dow Jones industrial average slipped 30 points, or 0.2 percent, to 20,547. The Nasdaq composite gave up 6 points, or 0.1 percent, to close at 5,910.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.24 percent.

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11:45 a.m.

U.S. stocks are mostly lower in midday trading after a big gain the day before.

Energy companies are falling Friday as oil prices decrease. One of the largest companies in the industry, Schlumberger, announced lower revenue than investors had forecast.

Banks declined as bond yields fell. Bank of America lost 1 percent.

Toy maker Mattel plunged 11 percent after it reported a big drop in sales.

Payments processing giant Visa climbed 0.5 percent after reporting a solid quarter.

The Standard & Poor's 500 index slipped 2 points, or 0.1 percent, to 2,353.

The Dow Jones industrial average rose 5 points to 20,584. The Nasdaq composite was little changed at 5,915.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.22 percent.

---

9:35 a.m.

Stocks are edging lower in early trading on Wall Street as traders digest the latest round of company earnings reports.

Toymaker Mattel slumped 8.3 percent in the first few minutes of trading Friday after reporting results that fell far short of analysts' forecasts.

Elsewhere, payments processing giant Visa climbed 1 percent after reporting a solid quarter.

The Standard & Poor's 500 index was down 1 point at 2,354.

The Dow Jones industrial average rose 9 points, or 0.1 percent, to 20,590.

The Nasdaq composite was little changed at 5,913.

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