Apple stock fell despite better-than-expected results. During the regular trading session, the major stock indexes fell. Bobbi Rebell reports.
After the closing bell Tuesday- a wave of tech earnings led by Apple, which beat forecasts. iPhone sales surged 35 percent helping the company report a 32 percent jump in revenue- but that was disappointing to some who fear slowing growth for the maturing category. . Apple Watch sales beat internal expectations during the quarter according to the company. Microsoft earnings coming in better than forecasts- but Mr. Softie still reported a more than $3 billion loss- hurt by charges related to its Nokia phone business, job cuts and weak demand for its Windows operating system. GoPro shares fell in after hours after its earnings.. despite better-than-expected revenues, which jumped almost 72 percent. It had been on a big run up ahead of the results. Yahoo earnings a miss, and some cautious guidance for the current quarter, though revenue did grow and beat forecasts by just a tiny margin. Chipotle beating by a penny.. but revenues fell short of forecasts sending the stock lower in after hours. Disappointing earnings results from two blue chip manufacturers dragged down the Dow in a broad based decline. United Technologies led the list of S&P 500 decliners after the jet engine maker cut its profit forecast for the year, blaming a downdraft in its aerospace and elevator businesses. IBM revenue fell for the 13th straight quarter, and that pushed investors to punish the stock. Tesla's stock skidded. It got downgraded for the third time this month. UBS cut its rating to "sell" from "neutral." It predicts the electric car maker's auto and battery sales growth will miss targets. Gold halted its six-day slide. In Europe, Novartis' disappointing earnings led shares lower.