Saturday, October 22, 2011

Summary Box: Apple drags tech stocks lower (AP)

EUROPE: European leaders met Wednesday in preparation for a summit scheduled for this weekend. Markets sank after a report came out that Germany and France were in a deadlock over how to expand an emergency fund for heavily indebted countries.

APPLE: Apple Inc. slumped 5.6 percent after the company's income and revenue fell short of forecasts. It was a rare miss for the company, which had jumped 31 percent this year through Tuesday.

EARNINGS: Travelers Cos., a major insurer, jumped 5.7 percent after reporting revenue that beat analysts' expectations. Intel Corp. rose 3.6 percent after its net income beat Wall Street's target.

Source: http://us.rd.yahoo.com/dailynews/rss/stocks/*http%3A//news.yahoo.com/s/ap/20111019/ap_on_bi_ge/us_wall_street_summary_box

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