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BENGALURU/SAN FRANCISCO (Reuters) – Apple Inc shares slumped nearly 7 percent in after-hours trading as its fourth-quarter revenue forecast fell short of estimates and it missed some targets for iPhone sales. The forecast overshadowed Apple’s strong sales in China, which more than doubled to $13.23 billion from a year earlier. Apple Chief Financial Officer Luca Maestri said in an interview the results in China were “spectacular” during the quarter and
Apple’s stock has sunk in after-hours trading and is on course to write a new page in the history books.
U.S. home resales rose in June to their highest level in nearly 8-1/2 years, a sign of pent-up demand that should buoy the housing market recovery and likely keep the Federal Reserve on track to raise interest rates later this year. The National Association of Realtors said on Wednesday existing home sales increased 3.2 percent to an annual rate of 5.49 million units, the highest level since February 2007. Existing
The only thing that’s truly changed over the past week is stock prices and the investor emotions and expectations that rose with them.
Fannie Mae , the largest U.S. home funding source, said on Wednesday it sold $500 million of benchmark bills at higher interest rates compared with last week’s sale of similar maturities. Fannie Mae said …
Gold futures retreated for a 10th day in the longest run of losses since 1996 as Goldman Sachs Group Inc. predicted further declines and investors sold more through funds. Bullion has fallen out of favor with investors as the Federal Reserve prepares to raise interest rates, boosting the dollar and hurting gold’s allure. Prices could fall below $1,000 for the first time since 2009, Jeffrey Currie, Goldman’s New York-based head
LONDON/DUBAI (Reuters) – A drop in oil prices this month is likely to be short-term and will not deflect OPEC from its policy of keeping output high to defend market share, delegates from Gulf OPEC members and other nations said. OPEC, in a major policy shift, decided in November against cutting its production target of 30 million barrels per day (bpd) to prop up prices, seeking instead to defend market
Analysts, for the most part, remain as upbeat as ever on Apple after investors knocked more than $65 billion off the company’s market value in initial reaction to the company’s quarterly results on Tuesday.
Alibaba has moved to assure its cloud customers that their data is safe, as it looks to expand further into markets like the U.S and take on companies like Amazon and Microsoft.
Home Depot Inc said it agreed to buy home repair and maintenance product seller Interline Brands Inc for $1.63 billion. The all-cash deal is expected to be completed in Home Depot’s quarter ending Nov. …
