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Wall Street rest? Apple car; Elon Musk 'complacency'

Wall Street may be ready for a bit of a rest today after the Nasdaq (^IXIC) set yet another record high yesterday and the S&P 500 (^GSPC) fell just shy of an all-time high on strong earnings news and easing concerns about the Greek debt crisis.  

Yahoo Finance Columnist Rick Newman likes what he's been seeing.

"We've kind of been through the relief rally from Greece," he says. "It seems we're getting to where it's earnings driving the action rather than these geopolitical concerns, which is really what you want to happen."

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IBM misses again

Here are some of the stocks the Yahoo Finance team is following for you today.

IBM (IBM) Shares are taking a pounding this morning. Revenue at the computing giant fell for the 13th consecutive quarter, missing analysts estimates.  However, earnings topped forecasts. IBM blames the strong dollar along with increased costs for layoffs as it tries to reinvent itself into a software and cloud-based company. 

Verizon (VZ) The biggest US mobile phone provider also fell short on the top line while beating on the bottom line. Verizon says revenue was driven by gains in wireless and it's FiOs system.

United Technologies (UTX) Shares are lower after the maker of Pratt and Whitney engines and Carrier air conditioners also reported earnings that topped estimates and revenue that missed. Like IBM, United Technologies says it was impacted by the effects of a strong dollar.  And it warns the currency exchange rate plus weakness in China will hurt full year results.

Travelers (TRV) Shares are gaining this morning.  The insurance company handily beat on earnings in the quarter, as it benefited from a decline in natural-disaster claims and a tax settlement...but investment income fell. 

Qualcomm (QCOM) The Wall Street Journal reports the biggest cellphone chipmaker will conduct a sweeping review of its operations, which could lead to a breakup of the company.  The paper says Qualcomm may consider that or other options after being pressured by activist investor Jana Partners to make changes.

Apple (AAPL) The world's biggest firm by market capitalization is set to report earnings after the close of trading today.  Analysts of course will be watching for data on iPhone sales...but they'll also be trying to glean more information about demand for the Apple Watch. Separately, the company has hired Doug Betts who led global quality at Fiat Chrysler Automobiles (FCAU) and has been in the auto industry since 1987. Apple and Betts won't comment on the new role but we do know that Apple has hired a few big names in the auto industry recently for a reported electric car project codenamed "Titan."

New tricked-out Ford truck

Ford (F) is out with its new souped up F-150 today. The 2016 F-150 Limited could retail for more than $60,000 and will feature luxurious amenities like multicontour massaging seats.

Elon Musk, CEO of SpaceX, says "complacency" was a reason behind the explosion of the company's Falcon 9 rocket last month. Initial reports into what caused the failure point to a snapped support beam. On a conference call Monday he said that his team has become “a little bit complacent” and that the majority of those working at the company had only known successful launches.

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