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Tuesday Evening Business Brief

April 24, 2012, 6:26 PM

Tuesday Evening Business Brief

Helped by earnings reports from several of its components, the Dow closed with a gain of 74 points, or 0.6 percent, settling at 13,002. The S&P gained 5 points, while the Nasdaq slipped nearly 9 points.

  • The world's most valuable company, Apple is reporting that it sold 35 million iPhones in the first quarter. That's nearly twice as many as were sold a year ago and above expectations. Earnings of $12.30 a share were also well ahead of forecasts.
  • Americans' confidence in the economy has remained steady this morning, according to the latest snapshot from the Conference Board. The business research group says its index stood at 69.2, down from a revised 69.5 in March.
  • A new case of mad cow disease has surfaced in a dairy cow in California. The U.S. Agriculture Department says the animal was not bound for the nation's food supply and posed no danger to humans.
  • Google is hoping to build the world's largest digital filing cabinet in the latest attempt to deepen people's dependence on its services, by unveiling Google Drive.  The service is offering the first five gigabytes of storage per account for free. Additional storage will be sold for prices starting at $2.49 per month for 25 gigabytes up to $49.99 per month for one terabyte, equivalent to five laptops with 200-gigabyte drives.

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