Apple ( AAPL) shares continued their march lower, off 0.91% to $498.13, this time, on worries over iPad demand. There's concern that demand for the 9.7-inch iPad is being cannibalized by the smaller 7.9-inch iPad mini, which many on Wall Street think has lower gross margins than its big brother. Apple reports first-quarter earnings after the close of trading on Wed., Jan. 23. Analysts polled by Thomson Reuters expect the Cupertino, Calif.-based tech giant to earn $13.41 a share on $54.7 billion in revenue.
AT&T ( T) shares gained 0.39% to $33.33, despite the company recording a $10 billion charge to its pension and benefit plans. "We expect to record a non-cash, pre-tax charge of approximately $10 billion related to actuarial gains and losses on pension and postemployment benefit plans," AT&T said in an 8-K filing. In the filing, AT&T also noted that it sold 10.2 million smartphones during the fourth quarter. As a result of the high subsidies, the company expects "near-term pressure on operating income, margins, and earnings per share in the fourth quarter of 2012." Interested in more on AT&T? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull