Apple's iPhone Map App Apology, Giving Gifts Through Facebook

Aaron Task analyzes the morning business headlines.
3:00 | 09/28/12

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Transcript for Apple's iPhone Map App Apology, Giving Gifts Through Facebook
Haven't the opening up this Friday September 28 hello everyone I'm but -- -- -- Today marks the final trading day of the third quarter how market's been doing since the start of the year here to give us a progress report. And help -- look ahead to the final quarter is Aaron -- host of the daily -- and editor in chief at Yahoo! finance good morning -- -- -- -- Good morning can still the third quarter of 2000 basically comes to an end today that's what year sports -- so far hasn't. Oh yeah and suvs about 15%. Heading into today and I don't think many people -- the beginning of the year thought it was going to be. That -- of the year much less the first three quarters. Of course has not been reflected in the economy the market is not the same as the economy we got some new -- out at 830 personal incomes were up. Eight -- at 110%. In August and spending was up half a percent. Overall what's your read on the economy as we approach election today is the economy -- catch up with what the markets are doing. I'm afraid not I think -- the opposite might happen I think women have the market catch up with the economy other in the market and economy are always. Going in separate directions more so now than ever because of what the Fed is doing but the economy -- yes -- get durable goods numbers which plummeted. In August we get the downward revisions is second quarter GDP. That the economy is isn't a downward path and we're better off than what's going on in Europe. And China's -- so you know where the the best horse in the glue factory right now which is the good news but we're still -- factory I guess that's the real concern. So that's to account for some of the rise in the market activity is the Catholic is that the reports factory. Yeah I mean I think relatively speaking and it's it's a relative world on Wall Street we look better than certainly companies looking European companies -- in China is having a big slowdown. And the Federal Reserve is printing money. At such a rapid pace that if your speculator. You can almost have to say OK I'll take a free money from the Fed and I'll go take a flyer on some corporation and corporate down she's a very strong the stock market is not expensive. Especially compared to treasuries so. There are some reasons why the stock market is doing well but it's not because what the economy is -- -- if you think also in terms of people that have to -- place their money somewhere they figure well might as well when it here and it got. It -- the real estate -- in a matchup. Absolutely and and again -- -- -- global economy global investors have to put their money somewhere and they look at the United States as a safer place to put it. Then Europe certainly than China and a lot of -- -- emerging markets that's a big reason why the treasury market is done so well that's the real flight to safety -- And why the US stock market has done so well because US corporations the big ones. Again sitting on a cash they've been buying back stock there's really not hiring so their margins are very good and so. At a valuation basis to those stocks still look decent. I just wonder what happens at some point as a corporation you have to sell something to somebody in and that's where the rivers -- hit the road probably. In the coming quarter. Well right -- that looking forward -- a little bit about the maker of Blackberry Research in Motion was up nearly 20%. In premarket trading. Come on a surprising earnings report we have heard that -- was on the way down what what what's behind the story. Well rim is on the way down and then that's the bottom line and and I -- -- -- -- -- -- this man didn't report earnings they reported a loss. -- -- it's. The losing money and their revenues were down 31%. From a year ago but it. That was not as bad as what Wall Street was looking for so get its expectation game on Wall Street and I think for -- it's that old story but you've been down so. So long it looks like up from here it wasn't as bad as people feared NC -- getting a -- in the stock. I still think unfortunately the overall trend for rim. -- is downward I mean -- of the using subscribers. And they're just haven't really hard time competing with the iPhone -- the android Smartphones. That overseas sales those are still pretty strong program right. And that is. It away what they're counting on right now isn't there -- they're looking to get into frontier markets like Africa and they're breaking into China. That is helping them but the core business the US corporate business is shrinking and that at some point -- he gets down to there's competing on price and -- Nokia can compete on price. In the enjoyed -- and Lauren went to compete on price -- and the of that they've lost their fortress which was the in the enterprise market the corporate market because now -- big corporations will save their employees -- for you wanna use -- support. And for most people are increasingly more people that is either an iPhone -- an android Smartphone. -- speaking from -- to the giant and the market apple CEO Tim Cook is now apology -- -- for the new iPhone app app. This is not a good idea that Nancy knows that's not. Very well. Look I think they had to be -- -- is that the the blow back to be getting on the on the map app is has been really fierce -- this I think was for a lot of people assign an apple becoming arrogant and out there than 800 pound gorilla in the room in the old days a 510 years ago apple was seen as the scrappy upstart. Eligible rooted for them now -- the biggest most profitable company in the world. And there the dominant player in the room and so when they do something like getting rid of an application Google Maps that -- users lake. Because it's a corporate battle between apple and Google that doesn't sit well -- your consumers and -- I think Tim Cook. Needed you something. I don't know -- just saying I'm sorry is enough I think on the apology out some plans to fix the problem. Not that I've seen this this -- is broken we were coming on sets I'm seeing the full apology but -- are common when the antenna issue came up a couple of years ago. You know Steve Jobs apologized and he offered users a new case -- fifteen dollar credit. So you know take that maybe we can do is give people when -- new connectors absent having in the go out and spend forty bucks that would go a long way it's just. It was is its consumer relations in the do very good job at this map thing. -- latency -- -- the how that -- now FaceBook has unveiled a new way for you to bite your friends of Matt nice. Isn't. Just a convenience or is it gonna help the company make some money well -- Time against the wings -- different having gotten. That's that's it right now. Gonna take voters -- they -- after what. You know remember in the old days and -- and you would send your friend -- Well now you can send them an actual. Real physical good I think -- the other partnering with a hundred big retailers including Starbucks 100 flowers magnolia bakery. I think -- on to something here. If only because you know FaceBook is where most of mr. reminded when our friends' birthdays are pat Giles that for one click away think -- I -- send. You know my my old college roommate or my ex girlfriend or whoever it is a little -- -- -- -- -- -- -- -- -- -- Whoever it is you know it it's gonna be very easy to send a little gift to somebody or FaceBook and you know they've been trying to do you -- for awhile now. And -- they've had run that Britain formally given this is the way they need to go as a business. It certainly things that are -- -- -- -- at one look at -- formula to go and it looks like it's been down about 60 points this morning parents have to thank you. Thank you have really can Ito.

This transcript has been automatically generated and may not be 100% accurate.

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