Apple profits soar 67%; Dow erases triple-digit loss to close up 45

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can investors keep the rebound alive the bargain hunters took advantage of friday's big sell-off and scooped up deflated stocks monday erasing an early triple digit loss for the blue chips at the closing bell the dow jones industrial average raced up about 45 points while the nasdaq composite rallied 28. the tech sector could get a big boost today from apple's strong earnings apple beat expectations reporting profits soared 67 percent in the fourth quarter thanks to strong sales apple sold over 2 million max over a million iphones and 10 million ipods in the quarter to rake in more than 900 million dollars in profits you'll soon have one more place to buy a dell the pc maker says it will start selling computers at 1 400 staples stores next month dell inked a similar deal with walmart earlier this year it's trying to regain market share its loss to hewlett-packard in the pc market and general motors re-took the lead from toyota in the worldwide race to sell cars the u.s automaker sold nearly 2.4 million vehicles in the third quarter giving gm a 10 000 car lead over toyota for the first nine months of the year toyota was ahead in the first half of the year and based on yearly sales gm has been the number one automaker worldwide for 76 years that's your money watch click on cbsnews.com for more business headlines at the new york stock exchange i'm alexis christophers

Apple profit soars 67% on iPod, iPhone sales; Dow gains 109

CBS News

Transcript

just call it apples seeds of success consumers had a huge appetite for its max iPods and iPhones pushing apples quarterly earnings up sixty-seven percent from july-to-september apple sold over 2 million max and 10 million ipods and it looks like the iphone it's combination cell phone media player is living up to the hype apple sold over a million iphones in just three months shares of apple hit an all-time high on that news that helped give the overall market to boost the dow rang up a gain of a hundred and nine while the nasdaq powered ahead 45 points treasury secretary henry paulson warns lawmakers that delays in enacting a temporary fix to the alternative minimum tax could cause millions of taxpayers to experience delays in receiving their refunds experts say 21 million mostly unsuspecting taxpayers are at risk of getting nabbed by the amt and an average tax increase of two thousand dollars well it's not even Halloween yet and holiday airfare deals are already gone consumers apparently bought early for Thanksgiving and Christmas trips pushing prices up and available seats down experts say if you haven't bought yet do it now because air fares are expected to go even higher there are deals to be had if you're flexible and can travel on non-peak days that's your money watch log on to cbsnews.com for more in New York I'm Alexis Kristin for us