US stock open mixed after Apple's profit doubles
Tuesday, July 19, 2011
NEW YORK (AP) -- Stocks are opening mixed, a day after the Dow Jones industrial average posted its largest gains this year.
Apple Inc. is up 4 percent in early trading Wednesday after the company's quarterly net income doubled. Sales of iPhones quadrupled in Asia, helping Apple trump analysts' earnings estimates.
American Airlines' parent company, AMR Corp., is up more than 3 percent after announcing an order for 460 planes. The airline also announced that it plans to spin off its American Eagle subsidiary as a separate company.
The Dow is down 16 points, or 0.1 percent, to 12,572. The S&P 500 index is up 2 points, or 0.1 percent, to 1,328. The Nasdaq is up 4 points, or 0.1 percent, to 2,831.
The Dow gained 202 points Tuesday, its best day this year.