The Netherlands' Philips Electronics NV slumped on October 22 with a drop in earnings, one of the biggest losers among American Depositary Receipts (ADRs) and foreign shares. Dealers said overall trade was light amid profit-taking after six consecutive days of gains by the Dow Jones industrial average. Investors also were cautious about re-entering markets following weeks of volatility. "What we're hearing is that a lot of the trading houses have taken their horns in," a trader said. "I think everybody is like, 'We'll wait until we have a view we can stick with.'"The Dow industrials were off 1.03% in late morning and the Bank of New York index of 439 leading ADRs slipped 0.77%. The Nasdaq ADR index eased 0.49%. Philips was down 7-5/16, or 11.71%, to 55-1/8 in moderate trade. The ADRs were among top percentage-loss leaders on the New York Stock Exchange. The Dutch electronics giant...

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