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Business

  • Non-bank ATM fees jump
    LOS ANGELES – The penalty for using an ATM that is not affiliated with your bank rose 5 percent over the past year.The average fee for using an out-of-network ATM climbed to a new high of $4.
  • Apprentice slots open with union
    Plumbers & Steamfitters Local 166 will host an “Industry Advancement and Apprenticeship Promotion” event from today through Friday at the union’s offices, 2930 W. Ludwig Road.
  • Intel to buy stakein Chinese venture
    SANTA CLARA, Calif. – Intel will pay up to $1.5 billion for a 20 percent stake in a Chinese venture that will design and make Intel-branded chips for mobile phones and other electronics.
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Associated Press

Apple stock falls below $600

NEW YORK – Investors are sending Apple’s stock below $600 for the first time in three months, after the consumer electronics behemoth reported earnings for its latest quarter that missed expectations and warned that profits in the holiday quarter would fall from last year.

Apple shares are down 2 percent at $597.64 in midday trading Friday.

Late Thursday, Apple said profits for the rest of the year would be lower than what Wall Street has been expecting because it is launching so many new products. It’s expecting mammoth sales, but the new products are more expensive to make than the older ones.

Apple shares have now lost more than $100 from their all-time peak of $705.07, hit on Sept. 21, the day the iPhone went on sale in the U.S. and eight other countries.

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