Wall St manages slim gain, Apple falls after results
NEW YORK (REUTERS) - United States (US) stocks eked out small gains on Thursday in another uninspiring session on Wall Street, with worries about weak business spending keeping investors wary.
After the close of trading, Apple Inc, the most valuable public company in the United States, posted quarterly earnings that fell short of expectations. Apple's earnings per share came in at $8.67, compared with Wall Street's estimate for $8.75 a share. Trading of Apple's stock was halted after the close and ahead of the earnings. Apple's stock fell 1.4 per cent to $600.71 in extended-hours trading after its results, though it was down 4 percent when trading resumed.
Equity futures fell on the news, with S&P 500 futures dropping 3 points to 1,405.20, signaling a possible fall in stocks on Friday.
The Nasdaq 100 Powershares exchange-traded fund, which tracks the Nasdaq 100 Index, dropped 0.7 percent i n after-hours trading following Apple's results. Apple accounts for 19 percent of that index's value.