Business Today: S&P 500, Nasdaq fall on Apple's miss; Dow gains

	Click to View in Browser 07/25/2012 S&P 500, Nasdaq fall on Apple's miss; Dow gains NEW YORK (Reuters) - The S&P 500 fell for a fourth day and the Nasdaq dropped on Wednesday after a rare earnings stumble from Apple, while strong results from Boeing and Caterpillar lifted the Dow. New home sales tumble but upward trend intact WASHINGTON (Reuters) - New home sales recorded their biggest drop in more than a year in June and prices resumed their downward trend, dealing a setback for the budding housing market recovery. Zynga misses second quarter revenue expectations SAN FRANCISCO (Reuters) - Zynga Inc's second-quarter revenue missed Wall Street expectations, sending its stock 15 percent lower. Google, eBay, Amazon, Facebook back new lobbying group WASHINGTON (Reuters) - Google Inc, Amazon.com Inc, eBay Inc, Facebook Inc and other big Internet companies are starting a trade association to handle political and regulatory issues in Washington, a person close to the group said on Wednesday. Apple says Samsung patent royalty demands unfair SAN FRANCISCO (Reuters) - Apple Inc said Samsung Electronics Co Ltd is demanding from the iPhone maker a far higher patent royalty than it pays to other licensers, at a rate the South Korean company has never sought from any other licensee. Visa third quarter adjusted profit beats; ups full-year earnings forecast (Reuters) - Visa Inc's adjusted profit topped Wall Street estimates, and the company raised its full-year earnings forecast for the second time this year. GM to cut 20 executive jobs in product development revamp DETROIT (Reuters) - General Motors Co will cut 20 executive jobs in global product development in a restructuring that the largest U.S. automaker said will speed up decision-making. Big oil on the back foot in changing energy world Oil prices fall and the industry turns cannibal: big energy companies hunt out bargains among overstretched producers and promising explorers. It's the season for takeovers and asset deals again. Aeromexico places $11 billion order with Boeing MEXICO CITY (Reuters) - Mexico's largest airline Aeromexico on Wednesday placed an $11 billion provisional order with Boeing , in what the company said was the biggest aircraft investment by a Mexican airline in that country's history. Former UBS chief doubts criminal intent over Libor ZURICH (Reuters) - The former head of Swiss bank UBS doubts whether traders at global banks acted with criminal intent to manipulate benchmark interest rates and accuses regulators of ignoring warning signs, he told Reuters in an interview. Related Video Trading at Noon: The Good the Bad & the Ugly in Earnings Breakingviews: Sandy Weill's surprising conversion Economic News Geithner says he did all he could to address Libor problem Economists issue euro crisis blueprint, warn disaster looms A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend