Stocks turned lower, following slide in Apple’s shares. Wall Street’s initial rise echoed gains by equities around the globe on thinking European leaders would move to contain the region’s debt crisis. Apple turned 1.4% lower as the co. and Samsung Electronics had failed to settle a potentially costly patent dispute. Best Buy lost 1.4% after its results came in below estimates and the co. suspended its earnings outlook. Also ending in the red were Facebook and Google, losing 4.3% and 0.9% respectively. Facebook’s first major outside investor has sold more than 20 million shares of the company. Also, Groupon fell 2.4% after Barclays cut its rating to underweight from overweight and cut price target to $4. After the market close Dell slumped 4.5% after the co. cut its full-year outlook and its quarterly revenue came in shy of estimates. Implied volatility inched higher on moderate trading volumes.
