Yahoo Finance Here comes Apple
Stocks waver into the close as earnings disappoint and a big after-hours report from Apple looms. Catch The Final Round at 4 p.m. ET with Alexis Christoforous and Yahoo Finance editor-in-chief Andy Serwer.
Winners and losers
Stocks on the move lower today include Gilead as the drug maker lowered its full-year sales outlook on slowing sales of its hepatitis C treatment; athletic retailer Under Armour as profit takes a hit from the Sports Authority bankruptcy; and Chipotle shares taking a hit as Stifel downgrades the fast casual chain and others in the restaurant sector, claiming the US economy will likely fall into a recession in the next three to nine months.
Stocks on the move higher today include Dow component United Technologies after an earnings and revenue beat and raising its full-year guidance, casino operator Las Vegas Sands as founder Sheldon Adelson says he sees signs of a turnaround in Macau, and Texas Instruments. The chip maker is surging on a profit and revenue beat, as it saw strength in the automotive and communications chip units.
“Chaos Monkeys” author on Silicon Valley
Investors will get some insight into the Silicon Valley giants with earnings from Apple, Google and Facebook this week. But for the real deal on Silicon Valley, investors will have to navigate a maze of money cowboys, opportunists and sociopaths. Antonio García Martínez, author of the new book “Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley,” joins us to discuss.
Looking ahead
Before the bell we’ll get big earnings reports from Dow components Coca Cola and Boeing, as well as media giant Comcast.
Later in the morning we’ll get a key piece of economic data—durable goods orders for June. The consensus is for new orders to fall, but the ex-transports reading is expected to rise 0.3% month over month.
And last but not least, the FOMC will drop its latest policy statement tomorrow afternoon. Will we see any indication of the Fed’s rate hike path?
