US STOCKS-Apple weighs on Wall St; Nasdaq set for worst week in four

viernes 9 de mayo de 2014 11:54 GYT

* Apple reportedly close to deal for Beats Electronics

* Omnicom Group, Publicis call off merger

* Rocket Fuel plunges after outlook

* Indexes off: Dow 0.26 pct, S&P 0.45 pct, Nasdaq 0.59 pct (Adds comments, updates to late morning trading)

By Chuck Mikolajczak

NEW YORK, May 9 (Reuters) - U.S. stocks dipped on Friday, putting the S&P 500 on track to close a week of choppy trading on a negative note, while the Nasdaq was on pace for its worst weekly decline in four.

Apple Inc was the biggest drag on both the benchmark S&P index and the Nasdaq 100 on news it 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.

Some analysts questioned whether Beats, valued at $1 billion during its last funding round in September, was worth that price. Apple shares lost 1.2 percent to $581.

"What we look for in really good companies is people that understand the cash they have is the shareholders' and they use it accordingly," said Kim Forrest, senior equity research analyst, Fort Pitt Capital Group in Pittsburgh.   Continuación...