Stocks gain…Apple and Amazon earnings…Yahoo purchase
NEW YORK & SAN FRANCISCO (AP) – Stocks ended the session with modest gains. The Dow rose 26 points to 13,104. The S&P was up 4 points to 1,413, while the Nasdaq added 4 points to 2,986.
Apple missed Wall Street earnings forecasts for a second straight quarter, with iPad sales falling short, ahead of this week’s product update announcement. Apple says it sold 26.9 million iPhones in the quarter, at the high end of expectations, and 14 million iPads.
Amazon.com shares have dropped in after-hours trading. The world’s largest online retailer reported third-quarter results below Wall Street’s expectations, including a large loss that was weighed down by its stake in LivingSocial.
Yahoo says it has purchased mobile app developer Stamped, the first acquisition under new CEO Marissa Mayer. Terms of the deal were not revealed. New York-based Stamped runs a website and mobile app for customers to make online recommendations of their favorite things to read, listen to or eat.
McDonald’s will start selling packages of ground coffee at its restaurants in Canada next month. The announcement comes after the chain filed trademarks for “McCafe” ground and whole bean coffee in the U.S. last month. There was no immediate word whether it might also sell ground coffee in the U.S.