China Mobile Ltd
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Apple may finally have Wall Street off its back, but now the question lingers, just what exactly is the company planning to do with its $145 billion cash hoard?
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Stocks ended mixed as the major markets bounced off the day's lows following disappointing monthly housing data. "We may see some weakness, but overall we like the market. I think the direction is going to be higher," said Sebastian Leburn, chief investment officer at Weiss Capital Management, in an interview with CNBC.com.
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China Mobile, the world's largest wireless carrier, beat forecasts with a near 20% rise in quarterly net profit on the back of strong subscriber growth, but analysts warn that margins may shrink as competition intensifies.
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Stocks finished the day higher after the Fed chairman reassured investors that the economic outlook is not changed. "The (markets) valuation, if anything, has gotten a little bit better," Goldman, Sachs chief U.S. investment strategist Abby Joseph Cohen said. "Going forward, what matters is that the global economy still looks good."