A slowdown in China and skepticism over demand for iPhones were contributing to pressure on Apple's shares, traders said. "Apple has been the weak sister in the market today," said Alan Gayle, senior investment strategist and director of asset allocation at RidgeWorth Investments in Atlanta, Georgia. Stocks extended losses after Atlanta Federal Reserve President Dennis Lockhart told the Wall Street Journal that September may be the right time for Fed to lift interest rates.
By Paul Sandle LONDON (Reuters) - Drugmaker Shire said on Tuesday it was seeking to buy Baxalta , a company spun-off by Baxter International last month, for $30 billion to forge the leading global specialist in rare diseases. Baxalta rebuffed the offer on Tuesday and said in a statement that Shire's unsolicited offer significantly undervalued the company. Shire's all-share offer values each Baxalta share at $45.23, based on Aug. 3 market prices.
By Angeliki Koutantou and Lefteris Karagiannopoulos ATHENS (Reuters) - Both Greece and its lenders said on Tuesday they were optimistic they could broker a deal within days on a multi-billion euro bailout, striking a surprisingly upbeat tone on a process previously fraught with bitterness. A bailout worth up to 86 billion euros ($94.5 billion) must be settled by Aug. 20 -- or a second bridge loan agreed -- if Greece is to pay off debt of 3.5 billion euros to the European Central Bank that matures on that day. Wrapping up a day of talks in Athens, Greek Finance Minister Euclid Tsakalotos said negotiations were going better than expected.
By Saqib Iqbal Ahmed NEW YORK (Reuters) - Has the "curse of the Dow" finally caught up with Apple? The recent declines have wiped out nearly $100 billion of Apple's market value - about as much as fellow Dow components Boeing and McDonald's are worth in total.