Apple's Shares Drop; Walmart Plans to Lay-Off 2,300 Employees
The Dow Jones, Nasdaq, and the S&P 500 all bounced up to end afternoon trading in the green as investors await the outcome of the Feds policy meeting. Apple (AAPL) has become very dependent on the iPhone. Apple shares dropped sharply today after the company released its disappointing earnings, mainly due to low iPhone sales. Investors believe that Apple needs to focus on other products more so they are not heavily relying on one product for the majority of its revenue. Walmart (WMT) is the most recent company to announce that they will be cutting jobs in 2014.The mega-retailer announced that they will be laying of 2,300 employees at its Sam's Club stores. The nation's largest cable and internet provider, Comcast (CMCSA) had a great fourth quarter. The service provider revealed that its Q4 net income rose 26% in comparison to a year ago, reaching $1.91 billion.
Word on the Street
- Ford's (F) Q4 earnings rose 90% to $3 billion.
- U.S. durable good orders fell in December.
- Abercrombie & Fitch (ANF) CEO is no longer the chairman of the company.
- American Airlines (AAL) posts stronger than expected earnings after merger.
- Jobless rate in December fell in 39 states plus D.C.
- Will Amazon's (AMZN) internet TV box be able to play video games too?
- Southwest Air (LUV) to offer international flights.
Published on Jan 28, 2014By InvestorGuide Staff