Market Wrap: iPad Mini: Littler, Oval-ish, Different; Siris' Karmazin to Exit; Earnings in Full Swing; Bernanke on the Outs
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Price: $169.36 +0.20%
Overall Analyst Rating:
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Dividend Yield: 0.5%
EPS Growth %: -0.7%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: -0.7%
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Market wrap-up for October 23rd
End of the Day: S&P 500 down 20.7 to 1,413.11; Dow Jones down 243.4 to 13,102.53; Nasdaq down 26.5 to 2,990.46
The following is a brief summary of events moving markets today:
End of the Day: S&P 500 down 20.7 to 1,413.11; Dow Jones down 243.4 to 13,102.53; Nasdaq down 26.5 to 2,990.46
The following is a brief summary of events moving markets today:
- Bite-sized goodness: Apple (Nasdaq: AAPL) finally took the wraps off of its next-generation iPad: the iPad Mini
Apple's new device debuted as expected: WiFi, 7.9-inch display, all the great features of the iPad 2 in a smaller, more portable design. For more from the release, click here.
One hang up with investors was the pricing scheme; starting at $329, consumers might balk if comparing to the $199 Nexus 7 or Kindle Fire. Knowing past sales of Apple products, however, that shouldn't be an issue.
- He's serious this time: Sirius XM (Nasdaq: SIRI) CEO Mel Karmazin said he would be stepping down fro the role next February following the expiration of his current employment agreement and after a transition period. For more, click here.
- Getting into the thick of it: Earnings out today from the likes of Facebook (Nasdaq: FB), Netflix (Nasdaq: NFLX), DuPont (NYSE: DD), TI (NYSE: TXN), and more. Click here to review today's hot reports and summaries.
- But, please keep using the cards, okay?: Target (NYSE: TGT) entered an agreement with TD Bank to sell its U.S. credit card portfolio. Target reported that the portfolio has a gross value of approximately $5.9 billion.
In addition, the two companies entered into a seven-year program agreement under which TD will underwrite, fund and own future Target Credit Card and Target Visa receivables in the United States.
- Wants more "quality baseball-watching time": Fed chair Ben Bernanke is mulling retirement from his position, regardless of who becomes President next.
- Prices to drop at the pump. Any day now: Crude oil futures settled below $87 on Tuesday as supplies have remained healthy and some have questioned whether the global economy would bounce back to meet demand. December contracts fell $1.98 to $86.67 per barrel on the Comex.
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