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Im michelle carusocabrera, heres whats happening right now. Stocks are trading near their session lows with the dow currently sitting down 99 points. Were going to have full market coverage coming your way. In the meantime, evacuations are under way in california as a Massive Wildfire tears through parts of los angeles county. We are live on the scene ahead. And, take a look live at the floor of the Wells Fargo Center in philadelphia, thats where the Democratic NationalConvention Kicks off today. Full coverage coming up in just a few minutes. Brian. Well, as you can tell, folks, from michelle and tyler theres a lot going on today including more on this incredible heat wave smacking much of the country. But we begin with apple. And a big call on that st ....
Correction for stocks. Im in for melissa lee. Tonight we start with apple. The stock surging on a big top and bottom line about it. We just sat down with the ceo tim cook moments ago. Lets get straight to josh with the headlines. Josh . Sarah, i did sit down with ceo tim cook to go over the quarter. Let me give you the highlights. He said he feels fantastic about how the iphone did in q3. 40. 4 million un iits. Cooks point to me was that iphone demand was actually even better than what those sales might indicate because he took down that smart phone inventory by about four Million Units in the quarter. He also says he feels bullish about that iphone franchise looking ahead. He pointed at the q3 that the switchers from an zroidroids hi record. Iphone se he pointed out that, is the latest iphone, the four inch device, is attracting a whole new group of users to the ios system. And as for other products, ipad about ten million. That i ....
Well over the next two hours. Welcome, everybody. Im Tyler Mathisen with brian and melissa here and michelle in havana. But we begin this hour with john fortt in cupertino. This phone here might look old. The iphone 5s. We expect Something Like it to be the star of todays event. Perhaps called the iphone se. Apple is expected to resurrect this four inch iphone form factor in a newer phone with upgraded internals, better camera on the back, and upgraded chip inside, perhaps the a9, recently been in other phones. Now, part of the question is how much this will cost. Rumor has it could cost as low as 450, comparing to 650 for the iphone 6s. The latest out the gate. That could be important if this is part of apples move to get deeper into Growth Markets like india and china, which have had the strongest growth from apple thu ....
Hershey. Two economic reports today. Weekly jobless claims at 8 30 eastern time and december pending home sales at 10 00. And eu Foreign Ministers are meeting in brussels. The rouble weakening today on the threat. Andrew. Well talk about the big changes happening with mcdonalds in a minute but first a quick snapshot of other stocks this morning. Facebook beating the street on the top and bottom lines but Revenue Growth was the weakest since the start of 2014 and it rose faster. The Company Plans to cut spending by 15 billion over three years as Lower Oil Prices take a toll and qualcomm lowering its outlook for the year. They warn the newest mobile chip will not be used in Major Customer flag ship smartphone ....