Apple is proving it can weather the economic slowdown. Apple made more
than a billion dollars in the first 3 months of the year. Sales of its
Mac computers shot up 51% and it sold nearly 2 million iPhones during the
quarter. Things are not as rosy over at Amazon where the Internet retailers
said quarterly profits rose on higher sales of electronics and video games...
but Amazon lowered its profit outlook for the rest of the year. Starbucks
is sounding a profit warning. The coffee retail chain lowered its profit
outlook for the second quarter and the full year. The CEO is blaming the
weak economy and falling home prices for the dismal profit outlook. Investors
will be watching for earnings news later today from a slew of companies,
including Microsoft, Ford, and Pepsi. On Wall Street, stocks rose for the
first time in 3 days after oil took a break from its record run, and plane
maker Boeing wowed Wall Street with its earnings. The Dow climbed 43 points
while the NASDAQ rose 28. The Justice Department is concerned about Google
and Yahoo! teaming up to test online ads. Officials are worried that tests
may violate anti-trust laws. The Justice Department is reportedly focused
on a phone call...between the CEOs of Google and Yahoo! in which they talked
about thwarting Microsoft’s 45 billion-dollar takeover bid for Yahoo!.
That’s your Money Watch. You can click on cbsnews.com for more business
headlines. In New York, I’m Alexis Christoforous.