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

9:35 a.m.

Stocks are opening broadly lower on Wall Street after several big companies reported disappointing quarterly results or outlooks.

United Parcel Service slumped 6 percent in early trading Thursday after saying higher costs affected its business in the fourth quarter.

PayPal dropped 7.7 percent after eBay said it would move to a different payment processor.

Chipmaker Qorvo jumped 12 percent after reporting a solid quarter.

The Standard & Poor's 500 index fell 3 points, or 0.1 percent, to 2,819.

The Dow Jones industrial average fell 86 points, or 0.3 percent, to 26,071. The Nasdaq composite fell 19 points, or 0.3 percent, to 7,392.