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Good morning, Fools, and welcome back to work. Let's dig in to today's top stories.
Apple's iPhone preorders outstrip supply
Apple (Nasdaq: AAPL ) announced Monday that preorders for its new iPhone 5 topped 2 million in the first day of sales, Reuters has reported. While many preordered phones will deliver as advertised by Sept. 21, many others won't arrive until October, the company said.
Analysts have predicted that by the end of September, Apple will have sold more than 30 million iPhones, both old and new models, Reuters says.
Lowe's withdraws acquisition proposal
Lowe's (NYSE: LOW ) has withdrawn its proposal to buy Canadian home-improvement retailer Rona (TSX: RON.TO) after the latter's board rejected the offer, Bloomberg reports. Rona's shares dropped 6% in premarket trading on the news; Lowe's stock remained steady before the bell.
Waste Connections to buy R360
Waste Connections (NYSE: WCN ) announced this morning that it would purchase R360 Environmental Solutions for $1.3 billion, The New York Times says in an article. R360 is an oil-field treatment services company with 26 facilities across the country and brings in about $300 million in annual revenue, the Times reports.