Apple's profit tops forecasts; Mac sales strong

Apple Inc posted a quarterly profit that blew past Wall Street forecasts thanks to strong sales of Mac computers and improved margins, sending its shares up more than 3 percent on Tuesday. The company defied the global economic recession and reported a net profit of $1.23 billion, or $1.35 a share, for its fiscal third quarter ended June 27, up from $1.07 billion, or $1.19 a share, in the year-ago period. Read Full Article here.

Yahoo sees drop in income from operations this quarter

Yahoo Inc projected a drop in income from operations for the current quarter from the second quarter, and the Internet company's shares fell more than 4 percent. Yahoo projected that income from operations in the current quarter will range between $55 million to $65 million, down from $76 million in the second quarter. Read Full Article here.

Rural U.S. carriers unimpressed with Verizon offer

The Rural Cellular Association, whose members include about 100 small and medium-sized carriers, said on Tuesday it was encouraged by Verizon Wireless's offer to limit new exclusive handset deals but the offer was inadequate. Read Full Article here.