Shares of manufacturing and transportation companies declined after mixed economic and earnings data. The Federal Reserve Bank of Philadelphia said its index of general business activity covering the regional factory sector slipped to -1.6 from 12.4 in March, a hint that the recent recovery in the industrial sector still faces challenges. Union Pacific rose after the freight railroad's quarterly earnings decline wasn't as much as feared. Johnson Controls said it would proceed with its planned $14 billion merger with Tyco International despite tougher rules on inversion deals, and the maker of auto parts and other industrial goods boosted its outlook for its current fiscal year. Paint maker Sherwin-Williams raised its profit projection for the year as demand grew in the latest quarter. (rob.curran@dowjones.com)

(END) Dow Jones Newswires

April 21, 2016 17:11 ET (21:11 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
Johnson Controls (NYSE:JCI)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Johnson Controls Charts.
Johnson Controls (NYSE:JCI)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Johnson Controls Charts.