Pursuits
U.S. Stocks Erase Losses as Apple Offsets Earnings
This article is for subscribers only.
U.S. stocks erased earlier losses, sending the benchmark Standard & Poor’s 500 Index higher for the first time in three days, as an advance in Apple Inc. shares overshadowed disappointing corporate results.
Apple, the world’s most valuable company, jumped 4 percent and paced gains in technology companies. Peabody Energy Corp., the largest U.S. coal producer by volume, surged 12 percent after earnings beat projections. Freeport-McMoRan Copper & Gold Inc., the world’s biggest publicly traded copper producer, and SunTrust Banks Inc. retreated at least 1.4 percent after reporting earnings that missed analysts’ estimates.