Summary Box: Stocks fall on economic jitters

AP News
Posted: Apr 19, 2012 5:18 PM
Summary Box: Stocks fall on economic jitters

PROFITS UP, BUT NOT STOCKS: A slew of U.S. companies announced big profits, but investors spooked about the economy sold anyway. The Dow Jones industrial average fell 68.65 points, or 0.5 percent, to close at 12,964.10.

BIG LOSER: Apple dropped 3.4 percent to $587, continuing a slide from early last week. Some analysts think the drop simply reflects investors taking profits after a big run-up. Others see the fall as ominous, a signal perhaps that the company will sell fewer iPhones than expected.

BIG WINNERS: Tumi Holdings, a maker of high-end luggage, jumped 46 percent to $26.27 on its first day of trading. Human Genome Sciences doubled to $14.17 after the company spurned a takeover offer from GlaxoSmithKline of $13 per share, saying it undervalues the company.