GOOD DAY FOR: A landline, after Apple sold an estimated 425,000 of its new iPhones in their first three days on the market, in line with expectations. However, technical problems marred the launch, keeping many buyers from activating the phones right away. “The summary is that demand is good, execution was average,” said Piper Jaffray analyst Gene Munster. Munster expects Apple to sell 4.08 million iPhones this quarter. (Bloomberg)
BAD DAY FOR: Loose lips, after the Securities and Exchange Commission opened an investigation aimed at preventing the spread of false market information potentially tied to market manipulation. Swirling rumors of financial ill health have hit the share prices of Lehman Brothers and, most recently, Fannie Mae and Freddie Mac; Bear Stearns blamed rumors for its demise. (AP in CNNMoney.com)
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