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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jul 25, 2012
Page
12
Dow dips 104.14 to 12,618.32 as UPS forecast cuts and weak manufacturing spark global selloff. Spain debt tensions and dollar strength accompany Nasdaq and S&P declines while DuPont misses expectations and Richmond Fed signals factory contraction.
Apple Inc reports weaker increases in revenue and net income for the April to June period. Net income rose to 8.8 billion dollars or 9.32 per share, below FactSet expectations of 10.37. Revenue reached 35 billion, under 37 billion forecast. iPhone sales were 26 million and iPad sales 17 million, with iPhone results at the low end of estimates.
UPS warns the global economy will worsen and trims its 2012 earnings outlook. It expects slower global trade and weaker U S growth, signaling cuts in business and a dimmer earnings forecast for the year. Greek yogurt brands push flagship stores in New York as market demand rises.
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