US stocks higher as Apple ends losing run Shares in Apple opened higher after the world's largest company by market value had its steepest fall in six months on Monday, as Wall Street started the second session of the week with strong gains. Apple rose 0.1 per cent to $580.85 as the iPhone and iPad maker tried to shake off five consecutive days of losses that knocked its share price down from an all-time high of more than $636 last Monday. Analysts at Baird reiterated their "buy" rating and price target of $700 even after the near 10 per cent decline in the company's equity over the slide. William Power at Baird said that iPhone 4S and iPad 3 sales looked robust ahead of next week's second-quarter results from Apple, but that there may be potential weakness from the company's personal computer division. Overall, the S&P rose 0.8 per cent to 1,380.27 after edging lower on Monday. Shares in Goldman Sachs were muted even as the bank reported first-quarter earnings that beat expectations on Tuesday. The company said it would raise its dividend to 46 cents, from 35 cents. Earnings per share in the period were $3.92, higher than analysts" expectations of around $3.55 for the period. But the bank posted a 23 per cent drop in first-quarter earnings compared with the same period last year. Keith Horowitz, analyst at Citigroup, said that in the near-term shares in Goldman may be weaker due to a poor showing by its fixed income, currencies and commodities division. The unit saw revenues fall a fifth in the period to $3.46bn. Shares in the bank held steady at $117.55, underperforming its rivals, which were all up more than 1 per cent in early trading. Elsewhere, new housing starts dropped 5.8 per cent to 654,000 in March, falling well short of forecasts of around 700,000, as economists suggested that warmer winter weather had brought forward construction activity. Even as the construction of new homes declined, approvals for building permits rose significantly, beating expectations. Shares in PulteGroup moved up and led homebuilders on the main market, adding 2.7 per cent to $8.66. The Dow Jones Industrial Average moved 1 per cent higher to 13,046.48 while the Nasdaq Composite Index rose 0.8 per cent to 3,011.11. Struggling renewable energy company, First Solar , said it would lay off about 30 per cent of its workforce, shut manufacturing plants in Germany and reduce production in Malaysia due to weakening demand in Europe. The solar-panel maker said the savings from the cuts would reduce manufacturing costs from 74 cents to 70 cents a watt. Shares in First Solar rose 1.2 per cent to $21.06, but continue to trade near all-time lows.