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I was trying to play the quicktime live stream for Apples earnings call today
The url seen in the movie inspector in quicktime is http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov
However on trying to play, vlc gives the below error. I am using vlc 1.2 nightly build.

qt4 warning: Input option: network-caching=1000
main debug: adding item `http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov' ( http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov )
qt4 debug: Adding a new MRL to recent ones: http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov
main debug: meta ok for (null), need to fetch art
main debug: rebuilding array of current - root Playlist
main debug: rebuild done - 3 items, index 1
main debug: processing request item: http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov, node: null, skip: 0
main debug: resyncing on http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov
main debug: http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov is at 2
main debug: starting playback of the new playlist item
main debug: creating new input thread
main debug: Creating an input for 'http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov'
main debug: looking for meta fetcher module: 1 candidate
lua debug: Trying Lua scripts in C:\Users\madhusud\AppData\Roaming\vlc\lua\meta\fetcher
lua debug: Trying Lua scripts in C:\Program Files (x86)\VideoLAN\VLC\lua\meta\fetcher
lua debug: Trying Lua playlist script C:\Program Files (x86)\VideoLAN\VLC\lua\meta\fetcher\tvrage.luac
main debug: using timeshift granularity of 50 MiB, in path 'C:\Users\madhusud\AppData\Local\Temp'
main debug: `http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov' gives access `http' demux `' path `stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov'
main debug: creating demux: access='http' demux='' location='stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov' file='\\stream.qtv.apple.com\events\october\earnings\earnings_11\earnings_live_58382.mov'
main debug: looking for access_demux module: 0 candidates
main debug: no access_demux module matched "http"
main debug: TIMER module_need() : 0.184 ms - Total 0.184 ms / 1 intvls (Avg 0.184 ms)
main debug: creating access 'http' location='stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov', path='\\stream.qtv.apple.com\events\october\earnings\earnings_11\earnings_live_58382.mov'
main debug: using meta fetcher module "lua"
main debug: looking for access module: 2 candidates
main debug: TIMER module_need() : 2.216 ms - Total 2.216 ms / 1 intvls (Avg 2.216 ms)
main debug: removing module "lua"
main debug: searching art for http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov
access_http debug: HTTP proxy disabled (MSIE)
access_http debug: http: server='stream.qtv.apple.com' port=80 file='/events/october/earnings/earnings_11/earnings_live_58382.mov'
main debug: looking for art finder module: 2 candidates
lua debug: Trying Lua scripts in C:\Users\madhusud\AppData\Roaming\vlc\lua\meta\art
lua debug: Trying Lua scripts in C:\Program Files (x86)\VideoLAN\VLC\lua\meta\art
lua debug: Trying Lua playlist script C:\Program Files (x86)\VideoLAN\VLC\lua\meta\art\01_googleimage.luac
lua debug: Trying Lua playlist script C:\Program Files (x86)\VideoLAN\VLC\lua\meta\art\02_frenchtv.luac
main debug: net: connecting to stream.qtv.apple.com port 80
lua debug: Trying Lua playlist script C:\Program Files (x86)\VideoLAN\VLC\lua\meta\art\03_lastfm.luac
lua debug: Trying Lua playlist script C:\Program Files (x86)\VideoLAN\VLC\lua\meta\art\04_musicbrainz.luac
main debug: no art finder module matching "any" could be loaded
main debug: TIMER module_need() : 2.780 ms - Total 2.780 ms / 1 intvls (Avg 2.780 ms)
main debug: art not found for http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov
qt4 debug: IM: Setting an input
main debug: connection succeeded (socket = 1504)
access_http debug: protocol 'HTTP' answer code 404
access_http error: error: HTTP/1.1 404 Not Found
access_http debug: switching to HTTP version 1.0
main debug: net: connecting to stream.qtv.apple.com port 80
main debug: connection succeeded (socket = 1504)
access_http debug: protocol 'HTTP' answer code 404
access_http error: error: HTTP/1.1 404 Not Found
main debug: net: connecting to stream.qtv.apple.com port 80
main debug: connection succeeded (socket = 1500)
access_mms error: error: HTTP/1.1 404 Not Found
main debug: no access module matching "http" could be loaded
main debug: TIMER module_need() : 1816.459 ms - Total 1816.459 ms / 1 intvls (Avg 1816.459 ms)
main error: open of `http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov' failed
main debug: dead input
main debug: changing item without a request (current 2/3)
main debug: nothing to play
qt4 debug: IM: Deleting the input
main debug: Destroying the input for 'http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov'
main debug: TIMER input launching for 'http://stream.qtv.apple.com/events/october/earnings/earnings_11/earnings_live_58382.mov' : 1836.440 ms - Total 1836.440 ms / 1 intvls (Avg 1836.440 ms)

access_http debug: protocol 'HTTP' answer code 404

That was the correct url.
Later on I used wget to download the .mov which was a short binary file with a rtsp link.
I guess it is the equivalent of windows asx, not sure why vlc gave me 404.

404 is probably not a VLC bug. But you can check with Wireshark or an equivalent tool to be sure.