Stocks closed mostly higher after a volatile session, despite a drop in shares of Apple. Bobbi Rebell reports.
A volatile day for stocks. The major indexes coming back from losses to close mostly higher. High Tower's Pagnato Karp Group's Paul Pagnato says his clients are seeking out dividend paying stocks amid the volatility. (SOUNDBITE) PAUL PAGNATO, PARTNER, HIGH TOWER'S PAGNATO KARP GROUP (ENGLISH) SAYING: "We've seen an increase in appetite for cash flow and dividend stocks is definitely being requested more than in prior years, because they know they earn nothing in a money market or cash account and to be able to earn three, four percent in a high quality dividend paying company is meaningful to them." Apple shares fell after a Credit Suisse report said the it lowered its component orders by as much as ten percent. Shares of EMC moved lower after Re/code reported that its proposed takeover by Dell could be thwarted by tax issues. D.R. Horton's shares rose as the largest homebuilder in the U.S. reported increased profit and orders. Shares of Gap fell a day after the retailer said its comparable store sales fell more than expected in October. In economic news: import prices fell in October as oil prices declined. And wholesale inventories posted a surprise increase in September. In Europe, stocks ended the day mixed after a volatile session, finding some support by a weak euro.