Issue link: https://www.epageflip.net/i/62189
10B Daily News – Tuesday, April 17, 2012 For most of the year, Apple has propelled the Nasdaq composite index forward. The stock climbed from $405 at the start of the year to more than $630 last week, and the Nas- daq easily beat the gains of other indexes. Now Apple is sliding the other way and tak- ing the Nasdaq with it. Apple stock dropped more than $25 on Mon- day, its fifth straight day of declines. The NEW YORK (AP) — Apple weighs on Nasdaq; Dow climbs 72 Wall Street Apple helped push the Nasdaq composite index down 22.93 points on Monday to 2,988.40. The index is now up about 15 per- cent for the year after almost reaching 20 per- losing streak has wiped out about $60 billion of Apple's market value. That's more than the most optimistic projec- tions of the value of Facebook. cent by the end of March. ''It's been a very quirky market because it's been a few compa- nies that have delivered most of the rally this year,'' said Mark Lamkin, CEO of Lamkin Wealth Man- agement in Louisville, Ky. ''It's not been a broad-based rally.'' Apple, still the most valuable company in the world, accounts for 12 percent of the Nasdaq, more than any other 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. THANK YOU FOR SUPPORTING NEWS DAILY RED BLUFF TEHAMACOUNTY E VOICE OF TEHA M A C O U N T Y S I N C E 1 8 8 5 NEWSPAPERS stock. It has been on an almost uninterrupted climb for three years, powered by its hot iPhones and iPads. But last week, a vet- eran technology analyst boldly issued a down- grade for Apple. He predicted that cellphone companies would prob- ably stop offering such generous subsidies for customers to adopt the iPhone. Investors may also be locking in profits and getting out before Apple reports earnings April 24. Even after the five-day decline, Apple stock is up 43 percent for the year. ''It's had a huge phone, dropped for the second day in a row. Utility stocks and banks rose, while ener- gy companies and so- called consumer discre- tionary stocks fell. The Dow Jones industrial average rose 71.82 points to 12,921.41, a gain of 0.6 percent. All but six of the 30 stocks that make up the Dow rose for the day, explaining why it rose while the S&P was flat. Apple is not part of the Dow. run,'' said Burt White, chief investment officer of LPL Financial in Boston. ''Some investors probably said, 'Might as well take some profits.''' • THE GOLD EXCHANGE • LUIGI'S PIZZA • RED BLUFF AUTO DISMANTLING • McDONALDS • 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 • DUDLEY'S EXCAVATING, INC. • RED BLUFF INTERIORS • STATE FARM INS, KEITH THOMAS • TEHAMA ESTATES • CALIFORNIA WALNUT CO., INC. • AIRPORT AUTO REPAIR • KAY STEPHENS, MD • GREENWASTE OF TEHAMA • LOUISIANA PACIFIC CORP. • TEHAMA COUNTY ASSOCIATION OF REALTORS • QRC market was flat, helped by strong March retail sales but hurt by contin- uing concerns about ris- ing borrowing costs for debt-troubled Spain. The Standard & Poor's 500 index dropped 0.69 point to 1,369.57. Apple dragged down other technology stocks, which fell more than any other industry group in the S&P. Google, which went to trial Monday against Oracle in a copyright case over the Android The broader stock HAD A SMASHING WEEK? WE WILL GIBBS GIBBS NOW OFFERS RENTAL CARS M-F 8AM-5PM • 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. 527-2649 STRAIGHTEN IT OUT. 780 EAST AVE. (behind Food Maxx) MON.-FRI. 8AM-6PM SAT. 8AM-5PM The government reported that retail sales rose 0.8 percent com- pared to the previous month, twice what ana- lysts had been expect- ing. Skeptics noted that was less than Febru- ary's 1 percent increase. They also wondered whether the buying was just a result of the mild winter, rather than a sign of recovery: If peo- ple are buying lawn mowers and other warm-weather goods now, then they probably won't be later in the year. Building materials and garden equipment enjoyed the biggest jump in March. ''It's nice to see the retail sales were strong, but it's one month and it's one data point and it's not even the biggest data point,'' said Ryan Detrick, senior techni- cal strategist at Schaef- fer's Investment AUTO BODY REPAIR Research in Cincinnati. ''Honestly, jobs are much more important.'' Earlier this month, the government report- ed that the U.S. added 120,000 jobs in March, about half the pace of the previous three months. Spain's borrowing costs climbed above the closely watched 6 per- cent mark as investors grew more worried about the country's ability to pay its debts. Seven percent is the rate at which other Euro- pean countries have been forced to seek bailouts. Sweden cut its economic forecast for the year, saying that problems elsewhere in Europe were spreading its way. year Treasury note was steady at 1.98 percent. Among stocks mak- The yield on the 10- ing moves: — Mattel plummeted more than 9 percent after reporting a 53 per- cent drop in first-quar- ter earnings. The coun- try's largest toy maker is wrestling with lower sales of Hot Wheels and Barbies. It just bought HIT Entertainment, the company behind Thomas the Tank Engine and Bob the Builder. — Endocyte doubled to $7.62 after reporting that Merck, the world's second-largest drug- maker, will develop and market its experimental cancer drug. Endocyte, based in West Lafayette, Ind., has no products on the market. at Abbey's Hair Works Rebecca Glenn new Esthetician working Introducing 731 Main St. Ste. 1A. Facials, Waxing, Eyelash Extensions, Spray Tanning and Permanent Makeup. • Eyelash Extensions $ with this ad • European Facial $25 75 first appointment with this ad. Call (530)527-3974 Over 25 years of experience MORE BOB!!! Bob's Tire Center RED BLUFF 614 WALNUT ST. 530-529-1612 CORNING 1723 SOLANO ST. EASY CREDIT! 530-824-4929 AUTO TIRES • WHEELS • BRAKES • ALIGNMENT • A/C • AUTO REPAIR • & AND MORE CENTER CARE The North State's premier supplier of stoves STOVE JUNCTION Wood Burning Stoves Did you know? We've Got Exempt From No Burn Days! Serving Butte, Glenn & Tehama Counties Tues-Sat 9am-5pm • Closed Sun & Mon 22825 Antelope Blvd., Red Bluff 530-528-2221 • Fax 530-528-2229 www.thestovejunction.com LESS SCHWAB.... The