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Apple falls on CEO's health

posted 18 Jan 2011, 09:20 by Sam Mbale   [ updated 18 Jan 2011, 09:22 ]
Summary of business headlines: Apple's stock falls as investors fret; Citigroup stumbles in recovery; Boeing jet delayed until Q3.
USA-BUSINESS UPDATE - Shares of Apple Inc. opened the U.S. trading day with a 5 percent drop. Investors are worried about the future of the company one-day after CEO Steve Jobs announced a medical leave of absence. Wall Street will be looking for more information when the maker of iPads and iPods announces quarterly results after the close.

Citigroup is already out with its earnings. Fourth-quarter profits came in below forecasts due to a slump in trading revenues. But fewer loan losses helped the third largest U.S. bank turn its first full-year profit since the financial crisis.

Boeing has officially delayed first delivery of the 787 Dreamliner to the third quarter. The launch of the super-jumbo jet has been beset by a series of problems including an electrical fire on a test flight in November. The company says it will give more information when earnings are released in late January.

Conway Gittens, Reuters