APPLE STARTS SELLING IPHONE 5 IN STORES WORLD-WIDE
Huge lines welcome Apple's latest iPhone at stores in the U.S. and eight other countries, despite a widening controversy over the handset's mapping features.
U.S. STOCKS OPEN HIGHER AMID SPAIN OPTIMISM
Stocks start on a positive note, with the DJIA on track for a fourth straight day of gains as a report Spain is closer to receiving bailout funds cheers investors. Apple shares rise slightly, to above $700, as sales of the iPhone 5 kick off to large crowds.
EU, SPAIN IN BACKROOM TALKS ON BAILOUT TERMS
The European Commission and Spain are reportedly working to pave the way for a new Spanish rescue program and unlimited bond-buying by helping Madrid formulate an economic reform plan to be announced next week.
KB HOME SWINGS TO PROFIT
KB Home swings to a surprise fiscal third-quarter profit of $3.26 million, or 4c a share, demolishing views, as the homebuilder delivered more homes at higher prices. Shares rise 5%.
CRUDE UP ON SUPPLY CONCERNS, EURO-ZONE HOPES
Crude-oil futures higher, rising from the lows touched earlier this week, as supply disruption risks and the euro-zone hopes are back in focus amid the lack of major macroeconomic releases.
GREEK BUDGET TALKS PROGRESS BUT GAP REMAINS
Talks between Greece and a visiting troika of international debt inspectors have progressed, but there are still gaps to close before a deal is reached, a Greek official says.
DARDEN NET UP 3.9% ON SPECIALTY RESTAURANTS GROWTH
Darden Restaurants's fiscal 1Q earnings rise to $110.8 million, or 85c a share, as the restaurant-chain operator reports stronger same-restaurant sales at its specialty chains, though a decline at Red Lobster weighs on results. Shares up 4%.
CAW REACHES NEW LABOR PACT WITH GM
The Canadian Auto Workers union says it has reached a new labor contract with General Motors, averting the threat of a strike by the union and leaving only Chrysler Group at the bargaining table.
FED'S BULLARD BLAMES JOBLESS HIGH ON HOUSING FALLOUT
St. Louis Fed President James Bullard says high U.S. unemployment reflects the hangover from the housing bubble.
GM RECALLS 426,240 SEDANS, CITES TRANSMISSION GEAR
Auto giant is recalling 426,240 Chevy Malibu, Pontiac G6 and Saturn Aura sedans from model years 2007-10 to address a transmission gear issue which may lead to cars rolling when the drivers think they are in park, Reuters reports.
ORACLE PROFIT RISES AS SOFTWARE REVENUE IMPROVES
Oracle's fiscal 1Q earnings climb 11% to $2.03 billion, or 41 cents a share, as software revenue and margins improve, but hardware-systems sales continue to weaken. Shares rise 3% early.
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The Wall Street Journal
IPHONE DEMAND RAISES QUESTIONS ON APPLE'S HOLIDAY READINESS
As Asian suppliers of various components for Apple's iPhone 5 are scrambling to meet orders, strong demand for the new smartphone is raising questions as to whether Apple can secure all the components leading up to the holidays.
HEADWINDS FOR ROMNEY IN LATEST POLL RESULTS
Mitt Romney's path to victory is narrowing, new polling data suggest, presenting challenges for the Republican nominee at a moment when he is trying to rebound from a week of bad headlines by refocusing on federal spending.