Stocks Ended Mixed, Apple Sank Nasdaq

U.S. stocks finished mixed on Thursday, as a sharp drop in Apple Inc. weighed on the Nasdaq Composite. The Dow Jones Industrial Average gained 9.38 points, or 0.05%, to 17,720.50. The S&P 500 was down 0.35 point, or 0.02%, to 2,064.11. The Nasdaq Composite shed 23.35 points, or 0.49%, to 4,737.33.

Apple Inc.’s stock tumbled to a near two-year low on Thursday, as a sharp drop in earnings at Taiwanese iPhone assembler Foxconn Technology Co. highlighted increasing concerns over slowing iPhone sales.

Shake Shack (SHAK) reported 2016 first quarter earnings and revenue that topped analysts’ expectations and issuing a bullish full-year outlook. adjusted earnings of 8 cents per share, above analysts’ estimates for 5 cents per share. Revenue increased 43.3% year-over-year to $54.2 million for the most recent period, beating analysts’ estimates for $52.1 million.

Charter Communications has cleared a final regulatory hurdle in its nearly year-long quest to clinch its $71- billion acquisition of Time Warner Cable and Bright House Networks.

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