The markets were mostly flat today ahead of a slew of earnings and the FOMC announcement tomorrow. The Dow 30 was up 11 (-0.06%), the S&P 500 gained 3 (0.18%) and the Nasdaq 100 was the most volatile today losing 7 (-0.15%) ahead of Apples earnings after the close.
Apple (NASDAQ: AAPL) is the main stock in focus today as traders anticipate the earnings announcement. The tech giant is expected to report its first year-over-year decline in iPhone unit sales after the market closes today. Analysts forecast the tech giant will report 50 million in iPhone sales, down from 61 million one year ago. In other AAPL news, the FBI said today that it will not release the details of of how it hacked the iPhone. Shares of AAPL were down 0.69% at the close.
Shares of Sarepta Therapeutics (NASDAQ: SRPT) fell apart today losing 26.29% after the company disclosed that a FDA advisory committee did not recommend the approval of its drug eteplirsen. At its lowest point today shares hit a new 52 week low.
Baxter (NYSE: BAX) broke to new 52 week highs today (0.78%) after the company reported a first-quarter earnings and sales beat. The medical products and services company posted adjusted earnings per share of $0.36 on revenue of $2.38 billion.
Facebook (NYSE: FB) lost 1.22% today as the social networking giant is reportedly working on a new app to go head-to-head with Snapchat (NYSE:SNAP). The Wall Street Journal is reporting that the app is being developed by Facebook's "friend-sharing" team in London and is in its early stages. This news did not distract investors from positioning for tomorrows earnings announcement.
Lastly, Procter & Gamble (NYSE: PG) lost 2.28% today after the company posted mixed quarterly results. Its earnings beat estimates, but Procter & Gamble warned that its fourth-quarter outlook will be "significantly lower" than last year.