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Stocks mixed...Apple's 3Q earnings sag...AT&T revenue up, profit down

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By AP

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Updated: Tue, 23 Jul 2013 06:15:29 EST

NEW YORK (AP) — The major indexes have closed mostly lower as the day's corporate earnings news gave investors little direction. But the Dow Jones industrial average rose 22 points, on the strength of one stock. If not for the 3 percent gain in United Technologies, the Dow would have closed down a point. The Standard & Poor's 500 index fell three points and the Nasdaq composite was off 21. SAN FRANCISCO (AP) — Apple's latest quarterly report confirms the iPhone maker's growth has stalled. Still, Apple fared slightly better than analysts had anticipated. The results announced after the close of trading today mark the second straight quarter that Apple's earnings have fallen from the previous year after a decade of steadily rising profits. The company earned $6.9 billion, or $7.47 per share, in its fiscal third quarter, a 22 percent drop. Revenue totaled $35.3 billion versus $35 billion a year ago. DALLAS (AP) — AT&T is reporting strong wireless revenue for the latest quarter, but profits declined as costs grew. The country's largest telecommunications company says it earned $3.8 billion, or 71 cents per share, in the April-to-June period, compared with $3.9 billion a year ago. Revenue was 32.1 billion, up 1.6 percent from a year ago. The company added 550,000 wireless devices to its contract-based plans, most of them tablets. NEW YORK (AP) — The price of oil rose today as the market awaited the latest data on U.S. crude oil and gasoline supplies. Benchmark crude rose 29 cents to $107.23 per barrel. Tomorrow's weekly government report on crude oil inventories is expected to show another drop in supplies. Falling supplies have helped propel the price of oil to a 16-month high, boosting gasoline prices along with it. NEW ORLEANS (AP) — Authorities have restricted air and nautical traffic around the site of a natural gas well blowout in the Gulf of Mexico. Forty-seven workers on a drilling rig were evacuated after the well, located 55 miles off the Louisiana coast, blew this morning. No injuries were reported and there has been no fire so far. It's unclear how or when the well would be shut down.

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