On the upside
Apple (Nasdaq: AAPL) posted better than expected results due to strong iPhone sales. Investors snapped up the stock despite a modest outlook issued by the company.Virtualization software company VMware (NYSE: VMW) posted a 3rd quarter profit that beat estimates.
Shipping services provider C.H. Robinson Worldwide (Nasdaq: CHRW) reported higher 3rd quarter revenues and earnings to beat estimates despite concerns about higher fuel costs.
On the downside
Shares of SanDisk (Nasdaq: SNDK) collapsed after Samsung withdrew its $26 a share bid for the world's largest supplier of flash storage card products.AT&T (NYSE: T) posted higher 3rd quarter profits, but strong sales of iPhones increased the total cost of subsidizing the handsets which can be recovered over the duration of the subscriber contracts.
Managed-care company Coventry Health Care (NYSE: CVH) reported sharply lower profits and cut its guidance due to higher commercial medical costs and costs related to Medicare.
In the broad market, declining issues outpaced advancers by a margin
of 6 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000
which tracks small cap stocks fell 12 points to 517.
