After an upbeat opening, the Dow Industrial Average (^DJI 0.56%) dipped a bit this morning, but gained ground later -- even as concerns over an imminent attack on Syria fade amid political squabbling over a chemical weapons search-and-destroy strategy.
New gains for two former losers
Both Microsoft (MSFT -1.27%) and Disney (DIS 0.16%) are flying high today, both garnering gains of more than 1% so far.
Microsoft has been in the dumps lately, and Mr. Softy just might be getting a lift from Apple's (AAPL -1.22%) big announcements regarding its newest iPhones. The much-anticipated unveiling of its pricey 5S model and its cheaper 5C smartphone has spawned disappointment, however, rather than appreciation.
Reactions from the smartphone-hungry Chinese market have been tepid, as many voice concern over the higher-than-expected cost of the 5C model. So far today, Apple has suffered downgrades from three separate banks since the unveiling, and the stock was down nearly 6% by late morning.
For Microsoft, Apple's stumble could help its new plan to infiltrate the mobile phone market through its $7 billion Nokia buyout -- something that investors seem to be slowly embracing.
Disney hasn't been dinged by the news that its latest Pirates of the Caribbean extravaganza won't be in theaters by July 2015, as previously planned. The film is now expected to debut in mid-2016, due to availability issues surrounding its star, Johnny Depp. Perhaps the delay will give fans time to forget the disappointing turn the star's Lone Ranger film took at the box office earlier this summer.
Verizon perks up in late-morning trading
Telecommunications giant Verizon (VZ 0.90%) was looking poorly earlier today -- a big day, as its $49 billion bond deal begins. The company's $130 billion acquisition of its 45% Vodafone stake has rattled investors, but the $90 billion worth of ordersthe offering has garnered shows just how hungry the market has become for such deals. Verizon's 10-year bonds, for example, are expected to sport yields approximately 2.25 percentage points more than comparable Treasury bonds, according to The Wall Street Journal.
