Pursuits
Nasdaq Retreats Amid Tech Selloff After Apple, Microsoft Results
Apple Crumbles... and Microsoft’s Nokia Hang-up
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The Nasdaq Composite Index slumped the most in two weeks as disappointing results from Apple Inc., Microsoft Corp. and Yahoo! Inc. rippled through technology stocks.
Apple fell 4.2 percent after iPhone sales and revenue forecast missed estimates. Microsoft lost 3.7 percent after posting its largest-ever quarterly loss. Yahoo forecast sales that were below projections, sending its shares lower. Chipotle Mexican Grill Inc. jumped 7.8 percent after quarterly profit beat estimates and the company announced a stock buyback.