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Closing Bell: Apple Tumbles as Icahn Exits Stake; Stocks Sell Off

Earlier gains on the Nasdaq on Thursday were wiped out in the final hour of trading after Apple shares sold off for their second day in a row.

Earlier gains on the Nasdaq were wiped out in the final hour of trade after Apple (AAPL) - Get Apple Inc. (AAPL) Report shares sold off for their second day in a row. The S&P 500 and Dow were already lower after a disappointing first estimate for quarterly GDP. Apple fell after billionaire investor Carl Icahn said he no longer has a position in the company. Icahn said the tech giant's growth in China looks uncertain given the country's government could throw a regulatory curveball. Oracle (ORCL) - Get Oracle Corporation Report slipped after announcing plans to purchase Textura (TXTR) in a deal worth $663 million. Oracle expects the deal to close by the end of the year. Viacom (VIAB) - Get Viacom Inc. Class B Report has narrowed its list of bidders for a stake in Paramount Pictures down to just a few. Negotiations will begin in late May.

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