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Apple reports blockbuster quarter; stocks slip

Tuesday, January 31, 2017 - 01:12

iPhone sales help drive strong Apple results. Stocks close mostly lower. Bobbi Rebell reports.

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Apple reporting a blockbuster quarter, thanks to a bigger-than expected rise iPhone sales for the holiday quarter. During the regular trading session, stocks were mostly lower, dragged down by financial and technology stocks. Also a factor - disappointing earnings and concern over the priorities of the Trump administration. TJM Investments Tim Anderson however is optimistic the downward pressure will be short-lived. SOUNDBITE: TIM ANDERSON, MANAGING DIRECTOR, TJM INVESTMENTS (ENGLISH) SAYING: "Sure, we've pulled back a little bit, the first couple days of this week. And, I think that one thing we've seen over the last few years is that these sharp, two or three day, pullbacks can be reversed very quickly sometimes. " Sportswear maker Under Armour forecast 2017 sales well below analysts' estimates, sending its stock reeling. Package delivery company UPS weighing the most on the industrial sector, after posting a quarterly loss and issuing a full-year profit forecast that missed expectations. Turning to Europe: shares ended the month lower s investors turned more realistic about U.S. President Donald Trump's policies, even though solid economic data bolstered prospects for the region's equities.

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Apple reports blockbuster quarter; stocks slip

Tuesday, January 31, 2017 - 01:12