Apple closes first quarter without Jobs at helm

(MarketWatch) -- When Apple Inc. delivers its next earnings report later this month, it will mark a milestone of sorts: the company's first reporting period without Steve Jobs, its co-founder and chief executive.

Day-to-day management is in the hands of Chief Operating Officer Tim Cook, who has overseen several new product introductions but also has to cope with a severe economic downturn that has crimped demand for PCs and other high-tech products.
Apple is scheduled to deliver results for its second fiscal quarter on April 22. Although Jobs remains chief, he went on a medical leave of absence earlier this year that's scheduled to end in June. His health became a matter of concern last year when his appearance at a trade show set off rumors that the cancer he successfully battled in 2004 may have returned.

"They seem to still be focusing on strategy and execution," said Ashok Kumar, who covers Apple for Collins Stewart.
So far, investors seem to have kept their faith in Cook and company. Since Jan. 14, when Jobs announced he would be stepping aside to handle his health issues, Apple's stock has climbed more than 35% to $115 a share -- reaching its highest levels since last September.


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European Stocks May Rise; ABB, Pernod Ricard May Gain on Earnings, Outlook

(Bloomberg) -- European stocks may advance for the
first time in three days after ABB Ltd., the world's largest builder
of electricity networks, and Apple Inc. of the U.S. reported
earnings and sales that were higher than analysts estimated.

Pernod Ricard SA will probably gain after the world's
second-largest liquor company said annual profit will top
analysts' expectations. Royal Dutch Shell Plc, Europe's biggest
oil company by market value, and European Aeronautic Defence &
Space Co., parent of planemaker Airbus SAS, also reported better-
than-expected profit.


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US STOCKS-Futures drop on profit concerns, Apple lower

(Reuters) - NEW YORK, July 24 - U.S. stock index futures fell
on Tuesday as disappointing profits from DuPont Co. and
Texas Instruments Inc. raised concerns about the
economy's health and the impact of the housing slump.




A drop of 1.9 percent in shares of Apple Inc could
add to pressure on the technology sector.


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ICE seen at risk of overpaying if raises CBOT bid

(Reuters) - After months of battle, analysts wondered whether ICE Chief
Executive Jeff Sprecher could simply bow out after CME raised
its bid for CBOT Holdings Inc. by 7 percent on Friday.




ICE's stock "acted as if ICE is not going to buy," said
Scott Appleby of Appleby Capital Inc. "But I still think
there's a good chance they will raise their bid."


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U.S. Stocks Gain on Easing Subprime Concern; Freddie Mac, Apple Advance

(Bloomberg) -- U.S. stocks advanced after oil prices
fell and concerns eased that losses tied to subprime mortgages
will hurt financial company earnings.

Freddie Mac, the second-biggest U.S. mortgage finance
company, gained after its treasurer said the subprime slump is
``contained.'' Apple Inc., maker of the iPod music player, and
Google Inc., the world's most popular Internet search engine,
climbed after brokerages recommended buying the shares.


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Goldman Sachs Recommends Buying Apple Call `Spreads' Before IPhone Release

(Bloomberg) -- Investors should buy call options on
Apple Inc. while creating and selling separate ones with a
higher exercise price to benefit from moderate gains in the
shares before sales of iPhone begin, Goldman, Sachs & Co. said.

The New York-based brokerage recommended buying the so-
called call spreads because ``options are already pricing in
more volatility than they were a couple of months ago,''
according to a note dated June 20. Buying and selling call
options with different exercise prices on the same security is a
bet that the underlying stock will make a limited increase.


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Applebee's shares jump after report of IHOP bid

(Reuters) - Officials at both Applebee's and IHOP said they would not comment on rumors or speculation.




Applebee's said earlier this year it was reviewing strategic alternatives for its business. It said in April it had received several takeover proposals. It is also considering a recapitalization.


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