US STOCKS-Markets drop after consumer confidence data

* Consumer confidence worse than expected

* Apple falls sharply

* Walgreen jumps after earnings

* Indexes down: Dow 0.1 pct, S&P 0.3 pct, Nasdaq 0.5 pct

* For up-to-the-minute market news see [STXNEWS/US]
(Adds consumer confidence data)

By Edward Krudy

NEW YORK, Sept 28 (BestGrowthStock) – U.S. stocks (Read more about the stock market today. ) fell on Tuesday
after weak consumer confidence data poured cold water on
investors looking to extend a blistering September rally.

Signs the economy was on firmer footing have boosted
equities about 9 percent so far this month, but the unexpected
drop in consumer confidence challenged that view.

“There’s not a lot of good in the report. It really missed
expectations, though I’m somewhat surprised the market is
taking it on the chin like it is,” said Nicholas Colas, chief
market strategist at the Convergex Group in New York.

The Dow Jones industrial average (.DJI: ) dipped 11.50
points, or 0.11 percent, to 10,800.54. The Standard & Poor’s
500 (.SPX: ) fell 3.54 points, or 0.31 percent, to 1,138.62. The
Nasdaq Composite (.IXIC: ) was off 11.22 points, or 0.47 percent,
to 2,358.55.

Technology shares led the market decline in early trading.
Apple Inc (Read more about Apple stock future.) (AAPL.O: ) fell as much as 5.6 percent before easing to
trade down 1.8 percent at $286.05. The stock hit all-time
intraday highs every session last week as well as on Monday.

Research in Motion Ltd (RIMM.O: )(RIM.TO: ) dropped 3.3 percent
to $46.73 a day after it unveiled a new tablet computer.

U.S. consumer confidence ebbed in September to its lowest
levels since February, driven by deteriorating labor market and
business conditions, a private report showed. For details, see

Walgreen Co (WAG.N: ), the biggest U.S. drugstore chain,
reported higher-than-expected quarterly earnings, helped by
strong prescription drug sales. Its shares jumped 9.4 percent
to $33.18. [ID:nN28124290]

Continuing the spurt of recent M&A activity, Endo
Pharmaceuticals Holdings Inc (ENDP.O: ) will buy private generics
maker Qualitest Pharmaceuticals for about $1.2 billion, marking
its second deal in as many months. The stock advanced 9 percent
to $33.36.
(Reporting by Edward Krudy; additional reporting by Ryan
Vlastelica; editing by Jeffrey Benkoe)

US STOCKS-Markets drop after consumer confidence data