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Stocks mixed...Detroit bankruptcy hearing set...Apple website for software developers hacked

Monday - 7/22/2013, 3:41pm  ET

NEW YORK (AP) -- Stocks are little changed in afternoon trading on Wall Street. Rising commodity prices are helping to offset lackluster earnings reports from a handful of large U.S. companies. McDonald's stock fell after it reported a disappointing second quarter and warned of a tough year ahead. Media company Gannett dropped after its revenues fell short of financial analysts' expectations. Higher gold and copper prices boosted the stocks of mining companies.

DETROIT (AP) -- The federal judge overseeing Detroit's bankruptcy will hear arguments Wednesday on the city's request to freeze lawsuits by retirees who claim their pensions are protected by the state constitution. It will be the first hearing less than a week after Detroit became the largest U.S. city to file for bankruptcy. Judge Steven Rhodes says he'll take up just a few issues.

SAN FRANCISCO (AP) -- Apple says hackers may have gained access to personal information of software developers who make the company's apps. Apple Inc. says its website for software developers was hacked Thursday. It's possible that some developers' names, mailing or e-mail addresses was accessed, although other information was encrypted and can't be accessed. The company says it took the site down immediately on Thursday and has been working on fixing the problem since.

SUNNYVALE, Calif. (AP) -- Activist investor Dan Loeb and two other directors nominated by his hedge fund are leaving Yahoo's board after big gains in the Internet company's stock price over the past year. Yahoo is also buying back 40 million shares of its common stock from Loeb's hedge fund. Loeb instigated the departure of former Yahoo CEO Scott Thompson in May 2012 and longtime Google executive Marissa Mayer became CEO two months later. The stock has risen about 83 percent since then.

NEW YORK (AP) -- Aereo says it will expand to Utah next month. The service provides broadcast television over the Internet for $8 a month. It started in New York last year and expanded to Boston and Atlanta this spring. It already has announced plans to expand to Chicago in September. Aereo is positioning itself as a cheaper alternative to cable or satellite TV.


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