Issue link: https://www.epageflip.net/i/103600
8B Daily News – Tuesday, January 15, 2013 Stocks little changed on Wall Street; Apple slides NEW YORK (AP) — Apple held down the Standard & Poor's 500, pushing it further below the fiveyear high it reached last week, after the technology giant's stock sank following a report that demand for the iPhone 5 may be weaker than expected. The Dow Jones industrial aver- Wall Street age edged higher. The Dow rose 18.89 points to 13,507.32 Monday, having fallen as much as 29 points at the start of the day. The S&P 500 fell 1.37 point to 1,470.68. The Nasdaq composite index fell 8.13 points to 3,117.50 The S&P 500 closed at a five-year high of 1,472 on Thursday, following a solid start to the fourth-quarter earnings reporting period and amid optimism that the outlook for global growth is brightening. Apple's stock, which isn't included in the Dow but accounts for 10.3 percent of the Nasdaq index and 3.7 percent of the S&P, slid $18.55 to $501.75 after The Wall Street Journal reported that the company has reduced its orders for iPhone 5 components due to weak demand. Apple slipped below $500 a share for the first time in nearly a year in early trading. The stock has slumped 28 percent since closing at a record $702.10 in September. Computer maker Dell surged $1.41, or 13 percent, to $12.29 following a report that it's in talks with buyout firms. The company is considering going private with at least two firms, Bloomberg news reported, citing unidentified sources. Earnings reporting will pick up this week with many big U.S. banks, including JPMorgan Chase, Citigroup and Bank of America releasing results. ''The market is definitely in wait and see mode,'' said Brian Gendreau, a market strategist at Cetera Financial Group. Investors will be scrutinizing revenues to assess whether the drawn-out debate over the ''fiscal cliff'' had an impact on consumer spending. A series of tax hikes and spending cuts due to come into effect Jan. 1 were only averted by a last-minute deal. Earnings growth has likely peaked for now because companies have been relying on cost cutting, rather than growth, to boost profitability, says Ron Sloan, a senior portfolio manager at Invesco. Through the Newspapers in Education program, area classrooms receive the Red Bluff Daily News every day thanks to the generosity of these local businesses & individuals. TEHAMA COUNTY DAILY NEWS RED BLUFF 885 NTY S I N C E 1 TEHAMA COU E VOICE OF THANK YOU FOR SUPPORTING NEWSPAPERS Do you have sticker shock.... Even after advertised discounts are applied? If so, call Larry Hill's Hearing Solutions for a second opinion today. COMPARE AND SAVE HUNDREDS MAYBE EVEN THOUSANDS! At Larry Hill's Hearing Solutions our mission is to help the people of Tehama County communicate through better hearing. Every day we watch as our patient's lives are changed as they hear the whisper of their grandchild, or enjoy an evening out with friends. New Hours: Tuesday & Wednesday • 9AM - 5 PM Monday, Thursday & Friday by appointment We also make house calls! • THE GOLD EXCHANGE • LUIGI'S PIZZA • RED BLUFF AUTO DISMANTLING • OLIVE CITY QUICK LUBE • WALMART • ADOBE ROAD CHEVRON • CORNING AUTO CENTER • DM TECH HIGH SPEED INTERNET • GARCIA CONSTRUCTION • INTER-CITY BODY & PAINT • NORTH MAIN AUTOMOTIVE • RANCHO GRANDE RESTAURANT • SCHOOL HOUSE MARKET • TEHAMA CO. DEPT. OF ED. • FIDELITY NATIONAL TITLE CO. • JOHN WHEELER LOGGING, INC. • TRIPLE R GAS • LASSEN TAX PROFESSIONALS • RED BLUFF VISION CENTER • DUDLEY'S EXCAVATING, INC. • CALIFORNIA WALNUT CO., INC. • HINKLE ROOFING & CONST. • RED BLUFF HEALTH CARE • TEHAMA ESTATES • BRETNEY SUTTERFIELD • EDWARD JONES, CORNING • ETZLER FINANCIAL & INSURANCE • LEPAGE COMPANY, INC. • OLIVE CITY TAX PROFESSIONALS • PLACER TITLE COMPANY • AIRPORT AUTO REPAIR • KAY STEPHENS, MD • GREENWASTE OF TEHAMA • LOUISIANA PACIFIC CORP. • TEHAMA COUNTY ASSOCIATION OF REALTORS • STEVE'S BACKHOE SERVICE • GONZALES JUMPERS PARTY RENTALS • HUHN ELECTRIC • TEHAMA AUTO CENTER • JANETTE VOTAW ACUPUNCTURE Please help sponsor a classroom subscription Call Kathy at (530) 527-2151 to find out how.