Eurozone Drags Down Indices for Third Day on Tuesday, Apple Files Against Samsung
Tuesday marked the third day in a row for global market and US indices declines. The euro, which had already hit a two-year low, fell even further. Eurozone worries mount as weak data is revealed from Germany and Greece about their debt. Many are concerned that the stronger countries will not or may not be able to help in the long run. Apple Inc. (AAPL) and Samsung have filed patent infringement claims and UPS (UPS) has lowered their year outlook. Manufacturing in the US for the month of July was reported as contracting sharply. On a positive note, AT&T (ATT) posted an 8.7% increase in their quarterly earnings with higher smartphone sales.
Word on the Street
- Weak German data and changes by Moody dim the outlook even more for the eurozone.
- AT&T Inc. (ATT) sees an 8.7% increase in second-quarter profit due to the higher use of smartphones.
- US Court denies industry challenges from Spirit and Southwest (LUV) airlines over regulations related to consumer protection.
- Cisco Systems (CSCO) prepares to layoff 1,300 workers as a plan to help lower costs and simplify operations.
- The worst drought in 5 decades has sent the price of corn skyrocketing and expected yield at a 17-year low.
- Apple (AAPL) files damage claims against Samsung Electronics over technology patents for $2.525 billion.
- EU officials say Greece will need further debt restructuring due to their inability to pay what it owes.
- UPS (UPS) lowers their economic outlook for the rest of the year as the global economy continues to slow.
- HSBC Holdings (HBC) Gets Charged with Money Laundering Allegations.
- The world of recruiting is evolving as online companies drive change with "one click" applications.
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Published on Jul 24, 2012By InvestorGuide Staff