Latest Business News: Apple Beats Wall Street View, Shares up 4%

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Latest Business News: Apple Beats Wall Street View, Shares up 4%

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Latest Business News: Apple Beats Wall Street View, Shares up 4%

by Wochit 1:00 mins

Latest Business News: Apple Beats Wall Street View, Shares up 4%

by Wochit 1:00 mins

Apple reported slightly better-than-expected fiscal third quarter revenue of $35.3 billion on solid sales of its flagship iPhone, sending its shares up 4% in after-hours trading, but fourth-quarter sales guidance fell short. The Dow industrials and the S&P 500 kept close to record intraday highs in a tight trading range, with healthy earnings from United Technologies bolstering the blue-chip Dow. Jon Corzine and two of his top executives at defunct commodities brokerage MF Global are seeking to have dismissed a lawsuit accusing them of hastening the firm's 2011 collapse. Louis Freeh, the trustee that wound down MF Global's bankrupt parent, filed the lawsuit in April, accusing Corzine of pursuing a high-risk business strategy that culminated in the brokerage's destruction.

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