BOSTON (TheStreet) -- The highly anticipated unveiling of Apple's (AAPL - Get Report) new iPhone leads your quick fix of company, market, economic and investing news for Tuesday, Oct. 4.

The Big Story

U.S. stock futures are down again, there are heightened concerns of another recession in Europe, banks appear to be collapsing but -- oh my god -- Apple ( AAPL - Get Report) is going to present a new iPhone! Mac Rumors

How important is the new iPhone going to be? Sprint Nextel ( S - Get Report) has reportedly committed more than $20 billion to buy at least 30.5 million handsets from Apple. Wall Street Journal

World markets may be dropping like stones, but consumers still want their iPhone news. Stay with TheStreet at 1 p.m. New York time for a live blog of the unveiling of the iPhone 5. TheStreet

Quote of the Day

"The president continues to say, 'Pass my bill in its entirety,' and as I've said from the outset, the all-or-nothing approach is just unacceptable, and I think from a purely practical standpoint, the president's got some whipping to do on his own side of the aisle," said House Majority Leader Eric Cantor (R-Va.) of President Obama's $447 billion jobs plan. National Journal

Company News

European bank Dexia plunges anew, and both France and Belgium stand ready to guarantee the bank's finances. So it's a liquidity problem and not a solvency problem? Oh, well, in that case ... New York Times

A crash landing for investors in AMR Corp. ( AMR - Get Report) with the airline reportedly near bankruptcy. FT Alphaville

Oh, that explains this year's 12% decline in the stock. Microsoft ( MSFT - Get Report) CEO Steve Ballmer is underpaid. Bloomberg


Goldman Sachs analysts are now predicting recessions in Germany and France. It doesn't look so good for the U.S., either. Bloomberg

The correction is quickly becoming a crash. The Reformed Broker

Investors have no clear idea of how healthy Bank of America ( BAC - Get Report), Morgan Stanley ( MS - Get Report) or Citigroup ( C) are. The Big Picture

The unofficial list of problem banks in the U.S. Warning: It's a pretty long list. Calculated Risk

The financial sector has been weak, sure, but it's troubling that the strongest names in the group are showing cracks. Dragonfly Capital

There is no evidence yet of a double-dip recession, according to the data. Carpe Diem

Investment Strategy

AMR shareholders, pay attention: Eastman Kodak ( EK), rumored to be looking at Chapter 11 bankruptcy protection, surged 71% Monday even as the markets tanked. 24/7 Wall Street

U.S. large-cap energy companies are selling for 1.6 times book value, near an all-time low. iShares Blog

Odds and Ends

The plot thickens: Hewlett-Packard's ( HPQ - Get Report) newly crowned CEO, Meg Whitman, held a fundraiser at her home for New Jersey Gov. Chris Christie on the condition he not run for president. Wall Street Journal

The Occupy Wall Street protest, despite having no clear message, is the Tea Party with brains. MarketWatch

I missed this one yesterday: Arrested Development is coming back for a short-run TV series and a full-length movie. I'm so happy I could do GOB's chicken dance. New York Times

To celebrate the new iPhone unveiling, here's my favorite of all the songs Apple has pimped over the years. YouTube

-- Written by Robert Holmes in Boston.

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