* U.S. factory orders data released
* BlackBerry abandons sale plans, to replace CEO
* S&P up 0.1 pct, Dow down 0.08 pct, Nasdaq up 0.16 pct
By Luke Swiderski
NEW YORK, Nov 4 U.S. stock indexes were little
changed on Monday, with shares of Blackberry plummeting to a
10-year low as the day's biggest loser, amid uncertainty over
the longevity of the Federal Reserve's massive stimulus
U.S.-listed shares of Blackberry tumbled 13.8
percent to $6.70 a share after the smartphone maker said it was
abandoning a plan to sell itself and instead, would replace its
chief executive officer. With Monday's drop, the
stock is at levels unseen since October 2003.
The quiet start to the week follows a week of record highs
for U.S. stocks, and it remains to be seen whether the market
can push higher, with much dependent on the steps the Federal
Reserve will take in the months ahead in response to economic
data. The Fed's massive bond purchases have helped prop up the
economy and the equity market for much of the year.
"Honestly there's not a lot of news - we are catching our
breath," said Ryan Detrick, senior technical strategist at
Schaeffer's Investment Research.
The benchmark S&P index has risen 4.3 percent over
the past four weeks as the partial U.S. government shutdown in
October pushed back expectations for the Fed to begin curtailing
its stimulus measures into the first quarter of 2014.
The Dow Jones industrial average fell 12.42 points,
or 0.08 percent, to 15,603.13, the S&P 500 gained 1.73
points, or 0.1 percent, to 1,763.37 and the Nasdaq Composite
added 6.193 points, or 0.16 percent, to 3,928.236.
St. Louis Federal Reserve President James Bullard told CNBC
television the Fed should not rush a decision to scale back its
asset purchase program because of low inflation.
But recent manufacturing data has been stronger than
expected, lending weight to the argument that the economy may be
sturdy enough to handle an earlier-than-expected reduction in
the central bank's bond-buying program.
Factory orders rose 1.7 percent in September, in line with
consensus expectations, after an unexpected dip of 0.1 percent
in August, data released on Monday showed.
Kellogg Co advanced 1.5 percent to $63.24 after the
cereal maker reported a 3 percent rise in quarterly profit, and
said it would slash 7 percent of its workforce by 2017.
With about 75 percent of S&P 500 companies having reported
results so far, 69 percent have topped Wall Street's
expectations, above the long-term average of 63 percent, while
just 53 percent have topped revenue forecasts, below the 61
percent average since 2002, Thomson Reuters data showed.