US equities slipped at the open on the last trading day of 2006, Friday 29 December, as Apple Computer released a restatement of its earnings stretching back to 2002 following an internal review of stock option grants.
The Dow Jones Industrial Average edged down about 10 points to roughly 12,491 shortly after the opening bell, having set a record high above 12,500 earlier in the week. The Nasdaq and the S&P 500 also posted modest early declines.
Apple's board expressed backing for chief executive Steve Jobs even as the options inquiry drew scrutiny from federal regulators. The company said it had recognized 84 million dollars in additional non-cash, stock-based compensation expenses after tax, with 7 million dollars attributed to fiscal 2005 and 4 million dollars to fiscal 2006.
Trading activity was expected to thin further as the session progressed, with the bond market scheduled to close at 1:00 pm local time. Briefing.com president Dick Green noted that stock volume typically grows "even lighter in the afternoon" on such shortened trading days.
Historical summary. TurkishPress restated this wire report, first published in December 2006, in its own words.