U.S. Stocks Open Lower as Apple Suffers on Weak iPhone Demand

Credit Suisse says iPhone isn’t selling as well as expected and Valeant sees no change in sales since the recent controversies over its business practices.

Author:: Jane King
Publish date:: Nov 10, 2015 9:51 AM EST

U.S. stocks opened lower Tuesday as Apple (AAPL) shares are lower. Credit Suisse cites supply chain numbers showing the phone isn't selling as well as expected. Apple had no comment and its opening weekend numbers broke sales records. Valeant (VRX) CEO says it's seen little to no change in sales since the recent controversies over its business practices. The company held a follow up conference call today after criticism the previous one was too scripted. Valeant says its committed to ending its relationship with Philidor, the outside firm central to its business model controversy, by January 2016 at the latest. The company said any downside to its business will come from its dermatology unit. Best Buy (BBY) says it will open on Thanksgiving, starting at 5 pm. Stores will remain open till 1 am and then reopen on Black Friday at 8 am. Best Buy's Black Friday deals include Apple watches and 4k big screen TV's.