What to Watch: September 21, 2012
From Fnno.com, this is the Financial News Network. Here's a few things to watch for in the financial world today September 21. The first iPhone 5s go on sale today as hundreds of people wait in long lines outside of Apple (NASDAQ:AAPL) stores. People have been camping out in line since the announcement of the device on September 12. Since the debut of the iPhone 5, Apple stock has been hitting all time highs, going over the $700 mark. Today, it is poised to continue that trend as the tech giant begins adding iPhone 5 sales to its income. According to the Wall Street Journal, Bank of America (NYSE:BAC) is planning on cutting 16,000 jobs by the end of the year in an effort to trim the bank's size and make it more profitable. The newspaper said the reductions were outlined in a document given to top management. No official announcement by the bank yet but this information could give a positive boost to Bank of America stock in today's trading. Finally, the parent company of popular restaurant chains Olive Garden and Red Lobster seeing better than expected first quarter earnings results. Darden Restaurants (NYSE:DRI) posted EPS of 87 cents, higher than the 83 cents analysts were expecting. Revenue also rose 5% year over year to $2.03 billion, in line will Wall Street estimates. Despite struggling with declining traffic at some of its restaurants, sales ended winning out by helping income gain 4 percent over the previous quarter. Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.