US STOCKS-Wall St flat as Ukraine offsets Apple rally

jueves 24 de abril de 2014 10:28 GYT
 

* Indexes cut early gains on geopolitical concerns

* Apple rallies, announces 7-for-1 stock split

* Caterpillar gains after results; Verizon, 3M fall

* Indexes down: Dow 0.2 pct, S&P 0.1 pct, Nasdaq 0.1 pct (Updates to open)

By Ryan Vlastelica

NEW YORK, April 24 (Reuters) - U.S. stocks were flat in volatile trading on Thursday, with indexes cutting early gains on a resurgence of concerns related to Ukraine, though Apple jumped following its results.

Markets had opened higher, with the Nasdaq especially gaining on the back of strong tech results. However, indexes turned negative in the first half-hour of trading after Russian Defense Minister Sergei Shoigu said Russia started military drills near the border with Ukraine.

The issue "is a lit stick of dynamite" with remote chances of a peaceful resolution, said Todd Schoenberger, managing partner at LandColt Capital in New York. "All those geopolitical concerns warrant instability and higher commodity prices, and both of those are things Wall Street hates."

Apple Inc, the most valuable U.S. company by market capitalization, rose 7.5 percent to $563.89 a day after posting revenue that far outpaced expectations, helped by strong iPhone sales. It also approved another $30 billion stock buyback plan, raised its dividend and authorized a seven-for-one stock split.   Continuación...