MARKET PULSE-Apple, Facebook, Deere, Macy's, Steinway, The Medicines Co

Wed Aug 14, 2013 10:15am EDT
 
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(For more market insights, including options activity, click on STXNEWS/US; for The Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/kek42v)

Aug 14 (Reuters) - Some U.S. stocks on the move on Wednesday:

WALL STREET DIPS MODESTLY, BUT APPLE EXTENDS RALLY

U.S. stocks were slightly lower as investors found few reasons to make big bets, with equities near all-time highs and little clarity over Federal Reserve policy.

The Dow Jones industrial average was down 0.32 percent while the Standard & Poor's 500 Index was down 0.13 percent. The Nasdaq Composite Index was down 0.10 percent.

** APPLE INC, $496.79, up 1.4 pct (0931 ET)

Activist investor Carl Icahn said he has amassed a "large position" in the technology company and believes the stock could be worth as much as $700 if Chief Executive Tim Cook pushed for a larger stock buyback.

The surprise revelation from the billionaire activist caused a stir on Wall Street and pushed Apple's stock almost 5 percent higher to close at a 7-month high of $489.57 on the Nasdaq on Tuesday.   Continued...