Morning Buzz: Jan. 23, 2008

In what many analysts see as a worrisome sign of the breadth and severity of the current economic downturn, technology giant Apple yesterday released disappointing sales projections for the upcoming quarter. Despite beating Wall Street expectations in the first quarter of fiscal 2008, Apple says its second-quarter sales, though still predicted to rise, will not meet the market's expectations.

+ More

In what many analysts see as a worrisome sign of the breadth and severity of the current economic downturn, technology giant Apple yesterday released disappointing sales projections for the upcoming quarter. Despite beating Wall Street expectations in the first quarter of fiscal 2008, Apple says its second-quarter sales, though still predicted to rise, will not meet the market's expectations.

Meanwhile, lawmakers on Capitol Hill are continuing their talks today with Treasury Secretary Henry Paulson in an attempt to better define the number of people who will benefit from the stimulus package proposed in recent days by President Bush. Democratic lawmakers have asked that rebate checks be given to low-income workers; the administration, for its part, has stressed tax breaks for businesses and the unemployed.

An autopsy is expected today on the body of actor Heath Ledger, 28, who was found dead late Tuesday afternoon in an apartment building in the SoHo district of New York City. After finding bottles of prescription pills near his body, officials suspect Ledger may have died of a drug overdose.