Verizon Communications Inc. (NYSE: VZ) reported a fiscal fourth-quarter profit of $5.07 billion, or $1.76 a share, compared with a loss of $4.23 billion, or $1.48 a share, a year ago. Meanwhile, revenue increased to $31.07 billion, from $30.05 billion a year earlier.

On Tuesday, shares of Verizon fell 2.81 percent to $46.99 in mid-day trading.

Halliburton Company (NYSE: HAL) reported a fiscal fourth-quarter profit of $793 million, or 93 cents a share, compared with $669 million, or 72 cents a share, a year earlier. Revenue rose 4.8 percent to $7.64 billion.

Shares of Halliburton fell 2.78 percent to $49.25 in afternoon trading.

The Dow Jones industrial average dropped 125.81 points or 0.76 percent, to 16,332.75. The S&P 500 lost 4.39 points or 0.24 percent, to 1,834.44. The Nasdaq Composite rose 3.85 points or 0.09 percent, to 4,201.44.