US STOCKS-Dow ends at record high; Apple drags on S&P 500, Nasdaq

viernes 9 de mayo de 2014 16:47 GYT

* Apple reportedly close to deal for Beats Electronics

* IBM helps Dow; momentum shares like Gilead, Netflix rise

* Dow up 0.2 pct; S&P 500 up 0.2 pct; Nasdaq up 0.5 pct (Updates to close)

By Caroline Valetkevitch

NEW YORK, May 9 (Reuters) - The Dow ended at a record high on Friday, boosted by IBM, while a rebound in high-growth momentum names helped the broader market.

Consumer discretionary shares also lifted the market, with the stock of Gap Inc up 3.3 percent at $40.52 after the apparel retailer reported upbeat April sales and gave a profit forecast that surpassed Wall Street's expectations. The S&P consumer discretionary index was up 0.6 percent.

Apple Inc was the biggest drag on both the benchmark S&P 500 index and the Nasdaq 100 on news that it is close to paying a record $3.2 billion for Beats Electronics, an expensive foray into music streaming and headphone gear, two people with knowledge of the matter said.

Some analysts questioned whether Beats, valued at $1 billion during its last funding round in September, was worth that price. Apple shares fell 0.4 percent to $585.54.

Momentum names advanced, with shares of Gilead Sciences Inc up 1.3 percent at $79.76. Netflix Inc shares rose 2.1 percent to $328.55 after the company increased the price of its most popular video streaming plan by $1 a month.   Continuación...