April 24 - Apple stock is down ahead of its earnings report and shares of Netflix are plunging after it projected slower subscriber growth.
The day of reckoning for apple is here -- -- post earnings after the bell the stock has been on a wild ride it's down nearly 2% today. And off 10% from its closing this year. Investors will watch for impact of declining iPhone sales by watching the Telecom giants. AT&T'S -- lighting units sold for the quarter and Verizon its biggest rivals sold 3.2 million units down 24% from the previous quarter. One hopeful sign AT&T said Sharon was low in the quarter meaning fewer people left the service. Meanwhile Apple's earnings have surpassed analysts' projections in 97% of reports since 2003. Traders there reacted positively Apple's report 71% of the time and the stock has risen on average to point 6%. The closing price higher earnings to 8 AM. Shares of Netflix art making more than 12%. After the video rental companies are smaller than expected loss in the first court. Sterne -- -- are in Bosnia says it all comes down in Netflix expanding its subscriber base. His -- is neutral on the stock but raises salesman problem for. Yes I you don't get the subscriber growth. Daniel marches are going to smash -- further and that'll be a cause for concern both from a profitability standpoint and so analyses standpoint so. Even one line at two explain where everything the stock got to go one or the other. You know it has to be on a subscriber growth trends. A mixed bag of economic data out this morning the F and but hitting the -- time did cheered just yet. I worry that we might not see a really major turnaround in our lifetimes. We don't know that this bubble is going to repeat we had an enormous problem -- in the early twentieth century. But if we're gonna see every view of that in our history suggests that it would start on the West Coast in California. New home sales dropped in March their lowest level in four months consumer confidence also edged slightly lower in. US stock surging. Higher with -- earnings from three yen and AT&T boasting that -- now leading the advance on the S&P 500 is the telecoms sector. It is up. More than two and a half percent. Crude futures are rising today as US Federal Reserve's policy meeting kicks off. Gold is edging up closing in on 1646. Announced. And bond prices are dipping as treasure hunters to sell 35 billion dollars and two years. Now for stocks to watch let's go to Reuters markets correspondent and one. So it's all about earnings earnings and earnings shares that they clocked a discount retailers tumbled 20% this morning after the company lowered its sales outlook for the first quarter. The company said that its revenue from stores that have been open for at least here maybe slightly negative. Which is down from its previous expectation of a two to 4% growth. Adding -- -- sell off the stock was allocated by a couple of different this morning including Deutsche bank and Raymond James it. Shares of Wal-Mart are down slightly today yesterday the retailer lost ten billion dollars in market. On concerns that a bribery probe in Mexico could prove costly and hurt. Its expansion. That's all we're trading at me and I'm Fred Katayama this is what.