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Earnings beats from Google and IBM boosted Apple stock on Wednesday, as traders bet the one-time darling could regain some of its luster when it reports earnings after the bell.
"I think the market is psychologically prepared to continue without Apple, and if Apple gets involved, it could give it a little bit of an adrenalin shot," one pro said.
Sixty companies in the S&P 500 announced share buyback programs worth at least $1 billion so far this year.
LONDON, Oct 30- Imperial Tobacco has taken a 1.2 billion-pound writedown on its Spanish business as the impoverished country's smokers turn to cheaper black market cigarettes.
Altria Group Inc., the owner of the biggest U.S. cigarette maker, Philip Morris USA, continues to focus its efforts on building its premium Marlboro brand which has been under pressure from competitors and lower-priced cigarette brands as consumers face economic challenges and unemployment remains high.
RICHMOND, Va.-- Marlboro maker Altria Group Inc. says its third-quarter profit fell 44 percent on charges for a loss on early extinguishment of debt. The owner of the nation's biggest cigarette maker, Philip Morris USA, reported net income of $657 million, or 32 cents per share, for the period ended Sept. 30.
NEW YORK-- Nobody was expecting this round of corporate financial reports to be great. But underwhelming results _ particularly revenue, which offers a read on the economy _ are still rattling investors.
NEW YORK-- Nobody was expecting this earnings season to be great. Stocks plunged Tuesday, making it one of the worst days on Wall Street so far this year and sending the major indexes to their lowest levels since early September. That was June 1, the day the government released an ominously weak jobs report.
Britain's FTSE 100 lost 0.1 percent to 5,910.04 in early trading. Microsoft said net income fell a worse-than-expected 22 percent to $4.47 billion in the fiscal first quarter, which ended Sept. 30. BB&T bank, Philip Morris International and Boston Scientific also reported results that fell short of forecasts.
Markets in mainland China, Singapore, Thailand, Indonesia and India were down. Microsoft said net income fell a worse-than-expected 22 percent to $4.47 billion in the fiscal first quarter, which ended Sept. 30. Microsoft shares fell in after-hours trading.
European Union leaders opened a two-day meeting in Brussels on Thursday and took a critical step by agreeing to create a banking supervisor to oversee institutions in the 17 countries using the euro. South Korea's Kospi lost 0.9 percent to 1,942.47 and Australia's S&P/ASX 200 fell 0.1 percent to 4,554.50.
NOT FEELING LUCKY: Google inadvertently released a disappointing earnings report early, and its stock plunged. Google ended the day down more than $60 per share, or 8 percent. EARNINGS WATCH: BB&T, Philip Morris International and Boston Scientific all fell after reporting disappointing earnings.
NEW YORK-- Google plummeted almost $80 per share, more than 10 percent, and trading in the stock was halted two and a half hours Thursday after a disappointing earnings report was published ahead of schedule and surprised investors. Google was trading at $754 per share at 12:30 p.m. EDT, then fell almost $20 in a minute after investors saw the report, a draft.
Among the earnings stories for Thursday, Oct. 18, from AP Business News:. _ Morgan Stanley reported higher revenue and net income for its third quarter thanks to gains in its bonds and asset management businesses.
Google plunged 9 percent after it accidentally released a weak earnings report hours ahead of schedule. "This is a market that's waiting for a clear catalyst," said Quincy Krosby, market strategist at Prudential Financial. Google's stock dropped $68.19 to $687.30 before trading was suspended.
Tobacco companies including Philip Morris International Inc. have ventured into smokeless tobacco and other nicotine products as tax increases, health concerns, smoking bans and stigma cut into demand for cigarettes.
THE RESULTS: Philip Morris International Inc.' s third-quarter net income fell more than 6 percent to $2.23 billion, despite higher prices, as the company sold fewer cigarettes.
NEW YORK-- The stock market headed slightly lower on Thursday, following a leap in claims for unemployment benefits and weak results from American Express. The increase suggested that layoffs were increasing, however the Labor Department noted that there were technical reasons behind the swing, mainly delayed figures from one large state, California.