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Why Apple CEO Tim Cook Is 'Incredibly Excited' About Apple's Earnings

Apple Press(NEW YORK) -- Apple has announced record third quarter earnings that includes an upbeat message from an "incredibly excited" CEO Tim Cook.

"Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters," he said. "We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce."

The company reported higher iPhone sales this June quarter compared to the same period last year, despite customers who may be holding out for the anticipated iPhone 6.

In a conference call, Cook said he was "excited" about recent developments, including the acquisition of Beats.

Cook also repeated that there is an "incredible pipeline of products and services that we can't wait to show you" -- although he did not go into any detail.

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Why OJ Is Getting Squeezed From Breakfast Tables

iStock/Thinkstock(NEW YORK) -- For generations orange juice has been the staple of a nutritious breakfast, but recently, it has been feeling the squeeze.

In June, Americans bought less orange juice than they ever have since the Florida Department of Citrus started keeping track in 2002.

Orange juice consumption in the United States is down 38% over the last decade. It's also facing competition from supermarket aisles of exotic juices.

At the same time, orange juice is nearly $6.50 a gallon, a record high this month, and up nearly 4% for the year.

Farmers placed the blame largely on a devastating bacteria that has been killing Florida's citrus crops and said with less fruit, they could not make as much fruit juice.

And while advertisements from the 1970s said natural orange juice was rich in vitamin C, new studies have shown that it's also rich in calories and sugar -- nearly the same amount as in cola drinks.

The Florida Department of Citrus is trying to win back consumers with a new ad campaign launched in June. It's also getting help from Marvel Comics to redesign a spokes-character, Captain Citrus.

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Tips to Ensure Your Home Makeover Doesn't Become a Resale Nightmare

iStock/Thinkstock(CHICAGO) -- A million-dollar mansion in Marengo, Illinois may be one of America's most unsellable homes.

The mansion has an eagle painted on the ceiling, a dragon painted on the bedroom wall, and a life-sized ostrich statue in the living room.

Real estate agent Elka Roberts said she'd been trying to sell the property outside of Chicago for more than two years and is still looking for a buyer.

Unlike the houses in the neighborhood, the mansion has a custom drawbridge, its own tower, and a massive pool. But without any takers, the asking price has dropped by more than $200,000 to $1,099,000, Roberts said.

According to the National Association of Realtors, 2.3 million existing homes are currently on the market, the highest number in almost two years.

So, if you're looking to sell your home, Barbara Corcoran, a New York real estate guru who appears on ABC's Shark Tank, says to keep some cardinal rules of renovation in mind.

"You've got to keep things simple when you sell your house," she said. "White is better than orange. Simple furniture is better than anything fancy. Less art is better than more art. Painted eagles in flight on the ceiling? Think of those eagles as taking your money away."

Other tips include:

  1. Avoid custom paint jobs and ornate lighting.
  2. Don't install carpet. Real estate agents say buyers prefer uncovered floors.
  3. Spend on curb appeal. Studies have shown that most buyers won't get out of their car if they pull up to a house with an ugly yard.
  4. Mancaves don't pay.

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Chipotle Stock Reaches Record High

iStock/Thinkstock(NEW YORK) -- Chipotle shares hit an all time high on the New York Stock Exchange on Tuesday, with prices closing up more than 12%.

The Mexican fast-food chain reported robust second quarter earnings after the close Monday.

The Dow Jones Industrial Average rose 61 points on Tuesday, ending the day at 17,113.54, and the Nasdaq climbed more than 31 points, closing at 4,456.02.

The S&P 500 closed at a record high, up almost 10 points at 1,983.53.

Sales of previously owned homes were up again in June, to the highest level in 8 months. The National Association of Realtors says it was the first time they topped the 5 million mark since October.

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Existing Home Sales Jump 2.6% in June

iStock/Thinkstock(NEW YORK) -- Sales of existing U.S. homes rose for a third straight month in June, a new report out Tuesday shows.

The National Association of Realtors says sales climbed 2.6 percent last month to a seasonally adjusted annual rate of 5.04 million.

"I think its a good month. We're certainly headed in the right direction. We pulled up after a pretty weak spring market and we're anticipating a stronger second half of the year," says Ken Fears, a senior economist at the National Association of Realtors.

In another good sign, sales are at the highest pace in eight months. But, as Fears points out, they are still down from June 2013.

"We're still down about 2.3 percent from last year, but that year over year gap continues to contract," he says.

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How Airbnb Guest Is Staying in Apartment for Months 'Rent Free' SPRINGS, Calif.) -- An Airbnb host has found out the hard way that the legal protections for tenants in some states means that guests could end up staying in their homes rent free for up to three months.

A guest who made a reservation to stay in Cory Tschogl’s Palm Springs, California, home for more than a month is now refusing to leave and reportedly told her that he has a legal right to the domicile.

Tschogl told Business Insider that she tried to get the guest, who calls himself Maksym, to leave after the first month of his scheduled 44-day stay, but now he claims to have consulted an attorney who told him that even though he did not pay past the first month, he is legally occupying the home.

A real estate attorney told ABC News that Makysm may make out with a few rent-free months out of the deal.

In this particular case, the man is legally considered a tenant and Tschogl his landlord because they had an agreement that extended past one month.

“The landlord-tenant law in California is very specific in terms of the process that a landlord has to take for an eviction,” attorney Robert Spitz told ABC News.

There are two notification processes for eviction in California, Spitz explained: A three-day notice of eviction and a 30-day notice, and though Spitz is not personally involved in this case, the timing suggests that Tschogl will have to give a 30-day notice as part of a formal legal filing.

Tschogl could not be reached for comment by ABC News.

“At the end of the day they're liable for the amount of money that they owe but the landlord is still frustrated because the landlord is unable to get possession of the property back during that period. The unlawful detainment process can take up to two months,” Spitz said. “If the guy's a deadbeat, what does he care? He paid one month and he gets three months.”

Landlord-tenant law varies by state, but New York City real estate attorney Loraine Nadel told ABC News that it would be a similar situation if a guest overstayed their welcome in Manhattan.

“In New York State, if they’re less than 30 days, the police will usually evict them. Once they’re there for more than 30 days, they would have to go to court,” Nadel said. “The landlord would win, there’s no way the tenant would be able stay forever, but maybe a couple months and they could have to pay a use-and-occupancy [fee] rather than rent.”

For their part, Airbnb said that they have been working with Tschogl after she reported the signs of trouble at the beginning of Maksym’s stay, which began on May 25 and was supposed to end on July 8 but shows no signs of ending.

“Officials from our team have contacted this host and she has been paid the full cost of the reservation and we're working with her to provide additional legal support as we move forward,” Airbnb spokesman Nick Papas told ABC News. “We're also reviewing our procedures and making changes to our platform to give hosts more information about long-term reservations.”

Spitz said that cases like this one happen more frequently than expected, citing a recent incident where a nanny refused to leave her employer’s home in California last month. That said, he said there are steps landlords can take to protect themselves.

“It’s incumbent on the landlord to do a credit check on their tenants,” Spitz said.

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Meet the Man Whose Job Is to Put You on Hold

Photodisc/Thinkstock(NEW YORK) -- Almost everyone has experienced being put on hold on the phone. Between the music selection and the automated voice that thanks you for calling, many encounters can be frustrating and seemingly endless.

Meet Aaron Kleinhandler, whose job it is to keep you on the line.

“Nobody wants to be on hold,” Kleinhandler, who essentially makes a living out of it, told ABC News.

Kleinhandler is a founder and CEO of Spectrio, a Florida-based company that produces more than 4,000 custom hold messages for companies each month, making him an on-hold guru of sorts for companies looking to keep customers engaged for as long as possible.

Seemingly random music and a voice asking you to “please hold for the next available representative” may seem simple enough, but the science of being put on hold can be surprisingly complex.

“People stay on the line less than 30 to 45 seconds,” said Kleinhandler, noting that the messages have a very short time to convince callers to stay engaged in the call before hanging up.

First, “we profile a client and figure out what his brand voice is,” said Kleinhandler. “We find the image that the client wants to portray.”

“The hardest part is trying to get businesses to think like their client being put on hold,” he explained. “You have no idea how many companies will say ‘We don’t put our people on hold.’”

“Then, our creative team will write a script,” said Kleinhandler. The automated voice on the other end of the line isn’t just feeding you any old excuse for putting you on hold -- a careful script is specifically written for each business based on the personalities of their clientele.

Phase three: finding the perfect voice.

Suzette is “young, relatable, inviting and polished.” Beverly is “adaptable, pleasant, authentic and relatable.” Walt is “adaptable and friendly with a positive vibe.”

Based on descriptions that sound like dating website profiles, Kleinhandler helps companies to pick from 29 female and 18 male voices, all with distinct "personalities."

“Women’s voices always seem to be more popular,” said Kleinhandler. “People find them more calming. If you’re going to be taking the customer’s time away, you don’t want to sound like a car salesman.”

After finding the right soothing voice to keep your customers calm, it’s time to choose the music that will keep callers tapping along while they wait.

“What is the overall vibe or tone that you would like to convey at your place of business?” is just one example of the questions that go into choosing the right tune. “Calm and serene? Energetic and lively? Hip and modern?”

From serene smooth jazz and classical music choices to the more upbeat Caribbean and world beat options, there are 11 genres for companies to choose from.

“[On hold] music now tends to be more of a contemporary drive,” said Kleinhandler, “Ten to 15 years ago it was more classical.”

Regardless of the genre, all selections are purely instrumental.

“You don’t want to have music that has words in it,” said Kleinhandler, who explains that bombarding customers with too many messages is overwhelming.

When the thorough research and selection process has been completed, businesses are sent on their way, hopefully with less frustrated clients waiting to speak to a representative.

Perhaps the biggest irony is that Kleinhandler admits that being on hold is downright annoying.

“I hate being on hold,” said Kleinhandler. “But now I have a better appreciation of it.”

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McDonald's, Coca-Cola Revenue Comes Up Short

McDonald's(NEW YORK) -- McDonald’s and Coca-Cola both missed analysts estimates this quarter, with McDonald’s posting a one-percent drop in profits while Coke saw a nearly three-percent decline in revenues.

The fast-food and soda maker stood in contrast with Chipotle, which posted a 25% bump in revenues Monday after the bell. The chain restaurant reported sales up 17 percent from last year.

Domino’s reported an 8.8 percent boost in revenue and 15.6 percent increase in net revenue.

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What Apple Likely Won't Talk About After Tuesday's Close

Justin Sullivan/Getty Images(NEW YORK) -- Apple CEO Tim Cook is likely Tuesday afternoon to again promise that exciting new products are on the way. But that's probably all he'll say about the topic when he speaks after the company releases its earnings.

Here are the things Apple fans really want to know but probably won't hear about in the earnings announcement:

1. Bigger, Badder iPhone 6?

In Tuesday's conference call with analysts, Apple's CEO and CFO may get pelted with questions about reportedly large manufacturing volume ahead of a potential iPhone 6. The company reportedly asked suppliers to manufacture 70 million to 80 million units of two large-screen iPhones, the Wall Street Journal noted Tuesday, according to unnamed sources. The next iPhones may have a larger screen of 4.7 inches and 5.5 inches diagonally, the newspaper said, as opposed to the latest iPhone 5S and cheaper 5C that measure 4 inches. Apple did not respond to a request for comment from ABC News.

2. The Unicorn: iWatch

Apple has never used the word iWatch, but reports have consistently referred to this mystical gadget. The only thing media and analysts have been told is that multiple product categories will be announced this year.

3. The Stepsister: iPhone 5C Success/Failure

While Apple announces how many iPhones the company sells, the company does not provide details of which iPhone models were the most popular. The company won't reveal how many iPhone 5C models were sold, as opposed to the 5S. The general number of iPhones sold, however, typically gives clues about whether customers may be waiting for the "next" model.

4. Cheaper Macs Paying Off?

In April, the company introduced an updated Macbook Air starting at $899 for an 11-inch model and $999 for a 13-inch one -- $100 cheaper than the previous prices. The company will announce how many Mac computers it sold, but it won't provide specific numbers on the Macbook Air or iMac. Last month, the company introduced a cheaper version of the all-in-one iMac desktop at $1,099.

5. iPad: Is Smaller Better?

Apple iPad sales have been relatively slow over the past year, so any signs of growth will be encouraging. But we may not necessarily hear if the iPad mini is beating the larger model, or vice versa. In March, Apple replaced the entry-level $399 iPad 2 with a 9.7-inch Retina display. Back in November, the 7.9-inch iPad mini with Retina display was introduced.

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Achieving Diversity in the Workplace Can Hurt the Achievers

Steve Hix/Somos Images/Fuse/Thinkstock(BOULDER, Colo.) -- It's obviously good to value diversity in the workplace, but there are times when it can backfire.

Specifically, a University of Colorado study says that women and minorities in executive positions who believe that things will be better with more women and minorities at their job often wind up making things worse for themselves.

For example, women who promote other women are viewed as less warm, while non-white executives seeking to hire more minority candidates are seen as less competent.

These opinions usually turn up in their performance reviews. 

On the other hand, male white executives who try to foster more diversity are often lauded for their efforts in their reviews.

David Hekman, one of the study's authors, maintains that self-interest plays a role in this disparity, concluding, "People are perceived as selfish when they advocate for someone who looks like them, unless they’re a white man."

Hekman suggests that there are a number of ways to level the playing field, such as using the term "demographic-unselfishness" rather than "diversity."

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Five Ways to Spot a Home Flip Money Pit

iStock/Thinkstock(NEW YORK) -- Just a few weeks after Eric Mann bought a Brooklyn brownstone for $1.2 million in February -- and painted the walls, sanded the floors, and added a $300 chandelier -- he sold it for $2.1 million.

"I was extremely lucky," said Mann, who said he'd bought about 40 properties across Brooklyn over the years as a real estate investor.

That's the wild world of house flipping, which is up 16% since last year and 114% from the previous year, according to real estate data-supplier RealtyTrac.

Ericka Doolittle said thought she was getting the deal of a lifetime as well when she purchased a newly renovated home in Oakland, California.

"On the surface, it looked pretty good," she told ABC News.

Then she discovered something her inspector had cautioned her about: more than $15,000 in hidden costs, from loose wires to sewer leaks.

A year after buying, Doolittle found two feet of water under debris in the basement.

"There was a veritable lake," she said. "[And] a lot of flooding issues. There was water under the house."

"What flippers are particularly good at is to make surface repairs -- and not handling the structural repairs that are sometimes needed," said New York real estate guru Barbara Corcoran who appears on ABC's Shark Tank.

Jennifer and Steve Clark of The Home Co., a husband-and-wife team of flippers, shared the following insider secrets to spotting a potentially bad flip:

1. In the utility rooms, make sure the dryer and heater are vented out of the house.

2. Measure the height of the electrical sockets. Steve Clark said they should be about 12 inches off the floor — anything else could be a sign of old electrical wiring.

3. Switches should be on the wall, not set into the molding.

4. If the owner says the house comes with new appliances, ask to see the manuals.

5. In the bathrooms, separate hot and cold knobs in the shower may mean old fixtures were replaced but not the old plumbing.

The Clarks advised to always get a thorough inspection before buying and remember that if it sounds too good to be true, it probably is.

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Members of Congress Plan to Live on Minimum Wage for a Week

Architect of the Capitol(WASHINGTON) -- A trio of Democratic politicians are about to find out what it's like to be poor.

Former Ohio Gov. Ted Strickland, Rep. Jan Schkowsky, D-Ill., and Rep. Tim Ryan, D-Ohio, announced Monday that they plan to "step into the shoes of a minimum wage worker and live for one week on just $77."

It's part of the Live the Wage Challenge starting Thursday— marking the fifth anniversary since Congress last increased the nation's minimum wage.

From July 24 to July 30, the three politicians will chronicle their experiences on social media in an effort to shed light on the challenges facing minimum wage workers across the country.

A minimum wage of $10.10 pegged to cost-of-living increases would provide Americans who "work hard and play by the rules" a chance at joining the middle class, Ryan said during a call with reporters.

Strickland echoed the congressman's sentiments, saying that full-time workers should not have to "live in poverty or have to choose between food and electricity every month."

The federal minimum wage in the United States is currently set at $7.25 an hour — and has not been increased by Congress since 2009. The federal minimum wage for tipped workers has remained at $2.13 an hour since 1991.

According to a statement on its website, "the Live the Wage Challenge has called on elected officials, community leaders, advocates and anyone concerned about the growing inequality in this country to walk in the shoes of a minimum wage worker by living on a minimum wage budget for one week."

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Netflix Shares Rise as It Gains Subscribers

iStock/Thinkstock(NEW YORK) -- Investors kicked off a new trading week with mixed results, as investors kept one eye on the tensions between Russia and the West over the downed Malasia Airlines flight in Ukraine and one eye on corporate earnings.

Netflix shares rose despite quarterly earnings that failed to meet analysts estimates. The streaming service added nearly 1.7 million subscribers globally in the second quarter.

The Dow Jones Industrial Average fell more than 48 points, closing at 17,051.73. The Nasdaq declined more than 7 points, ending the day at 4,424.70, while the S&P 500 lost more than 4 points, closing at 1,973.63.

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Mobile Home Apartment Building Comes to NYC

iStock/Thinkstock(NEW YORK) -- New York City is getting its first mobile-home apartment building.

Called "The Stack," this new residential building has 28 apartments formed by 59 modules, creating a collection of individual mobile homes piled on top of each other. 

The seven-story apartment building is on the northern tip of Manhattan and is built out of prefabricated rooms-- between 625 and 750 square-feet each.

Like mobile homes nationwide, these came to their destination on the back of a truck and got hoisted into place.

Rents start at $1,600 per month for a studio and $3,700 per month for a three-bedroom. 

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Casinos Closing in Atlantic City

iStock/Thinkstock(ATLANTIC CITY, N.J.) -- After 36 years of casino gambling in New Jersey, the industry is crashing.

Atlantic City, which once had a monopoly on East Coast gambling, is losing some of its 12 casinos.

The Atlantic Club, Trump Plaza, and the Showboat plan to fold this year, and the Revel could join them.

Despite the quick collapse, Atlantic City is gambling on new nightclubs, malls, concerts, and conventions as part of a five-year turn-around plan.

Analysts say Connecticut, Mississippi, and Pennsylvania may also be at risk because of increasing competition.

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