BTIG was the latest firm to downgrade the tech giant's stock last week over concerns on the iPhone's pricing and the ability of customers to upgrade. Adding to woes, the Department of Justice sued Apple and five publishers, saying they colluded on ebook pricing.
" We believe this could be a simple " collapsing" on its own weightgiven the year-to-date move," wrote Brian Marshall, analyst at ISI Group, referring to Apple's decline.
(CNNMoney) -- U.S. stocks advanced Friday, as investors welcomed another round of strong earnings from corporate America and positive news out of Europe.
The Dow Jones industrial average (INDU) jumped 100 points, or 0.8%, the S& P 500 (SPX) rose 9 points, or 0.6%, and the Nasdaq (COMP) gained 20 points, or 0.6%.
Govts committed more than $400 billion in fresh money to the International Monetary Fund to help it protect the world economy against deepening debt turmoil in Europe.
That sum is contained in the draft of a statement obtained by Bloomberg News which will be released by Group of 20 finance ministers and central bankers after a meeting now under way in Washington.
Specific country contributions will be decided ahead of a Mexican summit of G-20 leaders in June, Brazilian Finance Minister Guido Mantega said
teeth53 thot: Coming trading week is abit +ve over abit -ve...much of pennies stk's is still in rotational play.
The worst may be yet to come in the global financial crisis as the central bank spending that kept defaults low runs out, according to Deutsche Bank AG. (DBK)
Credit-default swap prices imply that four or more Euro nations may suffer so-called credit events such as having to restructure their debt, strategists led by, said Jim Reid and Nick Burns. The Markit iTraxx SovX Western Europe Index of contracts on 15 govts including Spain and Italy jumped 26% in the past month as the region’s crisis flared up.
“If these implied defaults come vaguely close to being realised then the next five years of corporate and financial defaults could easily be worse than the last five relatively calm years,” the analysts in London said.
“Much may eventually depend on how much money-printing can be tolerated as we are very close to being maxed out fiscally.”
European banks could be forced to sell as much as $3.8 trillion in assets through 2013 and curb lending if governments fall short of their pledges to stem the sovereign debt crisis or face a shock their firewall can’t contain, the International Monetary Fund said.
So far, deleveraging has occurred predominantly through buttressing capital positions and reducing non-core activities, leaving the impact on the rest of the world manageable,” the IMF said in its Global Financial Stability Report released today. “It is essential to continue to avoid a synchronized, large-scale, and aggressive trimming of balance sheets that could do serious damage to asset prices, credit supply, and economic activity in Europe and beyond.”
teeth53: Who got so much $$$ to buy ??. is like doing a fire sales, (cheap sales...lelong, lelong...arrghh)
BTIG was the latest firm to downgrade the tech giant's stock last week over concerns on the iPhone's pricing and the ability of customers to upgrade. Adding to woes, the Department of Justice sued Apple and five publishers, saying they colluded on ebook pricing.
" We believe this could be a simple " collapsing" on its own weightgiven the year-to-date move," wrote Brian Marshall, analyst at ISI Group, referring to Apple's decline.
The outlook for stock markets is " more promising today than it was near the end of last year," and the bull market has a way to go despite the temporary " bump steer" caused by last Friday's dismal jobs report, a strategist told CNBC.com on Tuesday.
After the worst week of the year, investors will respond to Friday's lackluster jobs report next week. Corporate profits, European debt and Chinese economic data are also in focus. More
The last Boeing 747 passenger service operated by Singapore Airlines took off Friday for a commemorative farewell return trip to Hong Kong. More »SIA's Boeing 747 takes off on final trip
The last Boeing 747 passenger service operated by Singapore Airlines took off Friday for a commemorative farewell return trip to Hong Kong. More »SIA's Boeing 747 takes off on final trip
The alleged mastermind of a multi-billion dollar smuggling racket whose extradition to China sparked a bitter diplomatic row with Canada went on trial Friday, the official Xinhua news agency reported.
Japan's cabinet issued the destroy order to the Minister of Defence, Naoki Tanaka, yesterday, giving him the green light to intercept the rocket " if necessary" . Surface-to-air missiles have already been deployed in central Tokyo and southern Japan, near the missile's expected flight path.
Tokyo has upped the ante in a looming face-off over North Korea's planned rocket launch next month by vowing to shoot it down if it threatens Japanese territory.
Pro-democracy leader Aung San Suu Kyi won a seat in parliament for the first time in Sunday by-elections, prompting scenes of jubilation among supporters.
The Nobel laureate won an estimated 82 percent of the vote in the constituency of Kawhmu
JOHOR BARU - The controversial Eastern Dispersal Link (EDL) is finally open to users starting today and motorists will not have to pay toll as yet.
Malaysian Highway Authority director-general said no toll would be charged for now as the Government was still finalising the details.
" The toll, will be put in place once the mode of payment is finalised,"
Previously reported that the 8.1km link built by M'sian Resources Corp Bhd would force motorists travelling to S'pore via the Johor Causeway to pay about 5 times more than the present rate of RM2.90 (S$1.18)
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-25.10 (-4.15%) 
] and Google [GOOG 606.07 
Too Big To Fail? Apple looks unstoppable. But investors need to look at the graveyard of once-dominant firms to see how far giants can fall.
The alleged mastermind of a multi-billion dollar smuggling racket whose extradition to China sparked a bitter diplomatic row with Canada went on trial Friday, the official Xinhua news agency reported.