Stocks Finished Mixed on Apple Strength

U.S. stocks finished mixed on Tuesday with speculation over Apple Inc.’s (NASDAQ:AAPL) next iPhone launch countering disappointing data showing manufacturing activity in August shrank for a third month. The Dow Jones industrial average was down 54.90 points, or 0.42 percent, at 13,035.94. The Standard & Poor’s 500 Index was down 1.64 points, or 0.12 percent, at 1,404.94. The Nasdaq Composite Index was up 8.10 points, or 0.26 percent, at 3,075.06.

Apple formally announced its Sept. 12 event on Tuesday for what most expect to be the unveiling of its much-awaited iPhone 5.The news was a surprise to no one, as several media outlets had already reported that the company was preparing an event for that date.

General Motors (GM) has backed away from tentative plans to share its mid-sized car technology with PSA Peugeot Citroen (UG.PA), a German magazine reported on Tuesday, potentially weakening the rationale for a broad alliance being negotiated by the two automakers.

Wal-Mart Stores Inc (WMT) is trimming the fee for this year’s U.S. holiday season layaway plan back to $5 after customers complained that the new $15 fee it announced two weeks ago was too high.

Spanish bank Santander (SAN.MC) said on Tuesday it would seek to raise up to 3.4 billion euros ($4.3 billion) through the stock market listing of a quarter of its Mexican unit as it looks to boost capital levels and weather a grinding recession at home.