Stocks Dropped at the Open; Apple to Unveil IPhone 6

U.S. stocks dropped at the open on Friday, kicking off a session that will cap a choppy week marked by
a retreat in tech stocks. The Dow Jones Industrial Average lately fell 31.72 points, or 0.19%, to
16,519.25. The S&P 500 was down 5.88 points, or 0.31%, to 1,869.75. The Nasdaq Composite shed 14.87
points, or 0.37%, to 4,036.63.

Apple Inc (AAPL) will unveil the next incarnation of its popular iPhone series in August, one month
earlier than industry watchers were generally expecting, Taiwanese media reported on Friday citing
unidentified supply-chain sources.

Apple Inc is close to paying a record $3.2 billion for Beats Electronics, two people with knowledge of
the matter said, an expensive foray into music streaming and headphone gear. Apple shares were little
changed in light premarket trading.

A proposed $35 billion merger of U.S.-based Omnicom Group Inc and rival France’s Publicis Groupe SA has been called off due to complex obstacles to molding the companies into the world’s largest advertising
agency.

Tesla Motors Inc. (TSLA)’s battle to sell electric cars directly to consumers faces a new hurdle as
Missouri’s legislature considers a measure to bar its company-owned store system.