The S&P 500 rebounded slightly Wednesday after the stock average closed Tuesday at the lowest level since Aug. 20, the latest in a string of negative trading sessions this September.The major index traded ticked up 0.2%. The Dow Jones Industrial Average traded near the flatline. The Nasdaq Composite inched 0.2% higher.Some bullish economic news released before the bell Wednesday helped sooth investor sentiment. The NY Fed's Empire Index, a measure of manufacturing in the region came in at 34.3 f
Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30%
One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?On the first day of September, one of the rare Wall Street bears on Apple stock finally gave in and dropped his sell rating. The last remaining one still sees shares dropping to a price target of $90, representing risk of loss of around 40%.Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall