Market Gives Mixed Signals: Blame Apple
The markets sent mixed signals today, with the Dow posting decent gains while the S&P 500 and Nasdaq both dropped. The big reason? Apple, which factors heavily into the latter two indices but doesn't affect the Dow directly, dropped heavily after it missed on earnings in the second quarter. The company also lowered guidance below expectations for next quarter, but with big impending product releases and growth opportunities in China, the company looks OK. Netflix got hammered, however, meeting domestic subscriber targets but providing a cautious outlook for subscriber growth going forward. RadioShack looks even worse, as a disappointing earnings report sent shares plummeting, with real concern for its long-term viability. On the bright side, Caterpillar posted an impressive quarter and appears capable of weathering the macroeconomic headwinds facing it in the near term.
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The article Market Gives Mixed Signals: Blame Apple originally appeared on Fool.com.Brenton Flynn owns shares of Netflix. The Motley Fool owns shares of Apple, Netflix, and RadioShack. Motley Fool newsletter services recommend Apple and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.