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Morning Outlook

Apple Drops on Samsung’s Reveal

By Morning OutlookFOXBusiness

A tech wreck on Wall Street Wednesday sent stocks down from record highs.

Apple (NASDAQ:AAPL) gave up 4%, or $26 billion in market value after arch-rival Samsung unveiled two new phones. The Galaxy Note Edge looks like an infinity pool the way the screen spills over the sides of the phone, making for easier navigation. The Note 4 can be used with a virtual reality headset, but there’s no word on prices. Apple has a major announcement next week. Automakers are on track for their strongest sales since 2006. That's boosting car prices. Kelley Blue Book says the average price for a new ride will set you back some $32,000, an $850 increase in the past year. Why?: Price jumps on trucks and SUVs. Changes are coming to the dinner table. Purdue says it's stopped the use of human antibiotics in about 95% of its chickens. There's been a consumer push for antibiotic-free food. Chipotle (NYSE:CMG), Panera (NASDAQ:PNRA) and Chick-Fil-A are on board. Hundreds of fast-food and home-care workers in hundreds of cities are expected to walk off the job Thursday. They're demanding wages of $15 an hour. Organizers also plan to engage in civil disobedience.

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