Market Recap: Stocks REBOUND, Apple WWDC Excitement, Nokia Struggles
Markets closed up on Wall Street today:
Dow +0.75%, S&P +0.81%, Nasdaq +0.97%, Oil -0.58%, Gold +0.42%.
On the commodities front, Oil (NYSE:USO) declined to $84.33 a barrel. Precious metals were mixed, with Gold (NYSE:GLD) increasing to $1595.00 an ounce while Silver (NYSE:SLV) fell 0.03% to settle at $28.50.
Here’s your Cheat Sheet to today’s top stock stories:
Leaks are turning into floods as whisperings and conjecture grow into full-fledged rumors ahead of Apple’s (NASDAQ:AAPL) Worldwide Developers Conference. While a new software launch seems likely, what everyone really wants to know is what new products Apple will present next week. Most of the attention has been centered on the Mac lineup, which has grown stale in recent years as Apple focused more on its mobile devices.
MUST-READ: WWDC 2012: Your Cheat Sheet to Apple’s Main Event >>
Facebook (NASDAQ:FB) announced Thursday it plans to launch an app center for its mobile platform that would allow users to get personalized app recommendations on their smartphones. The app store will let users download Facebook-integrated apps for both Apple’s (NASDAQ:AAPL) iOS and Google’s (NASDAQ:GOOG) Android devices, including popular apps like Instagram, Pinterest, and Draw Something.
As Nokia (NYSE:NOK) struggles to find its lost footing in the global phone market, several options have been suggested for the once-leader to make a new mark in today’s smartphone-focused world. While many think Microsoft (NASDAQ:MSFT) would be the obvious pick for a takeover bid for Nokia, with which it entered into a partnership to launch the Lumia line, technology analyst Jeff Kagan has a suggestion for a variation on that arrangement.
NetApp Inc. (NASDAQ:NTAP) fell $0.98 cents a share, or more than 3 percent to $30.35. Barclays analyst Ben Reitzes slashed his rating on the stock to “Equal Weight” or “Neutral” from “Overweight.” He said the company will face increasing competitive pressure for several months, according to MarketWatch.
Chesapeake Energy Corp.’s (NYSE:CHK) shares increased 2.1 percent after it announced that it will see more than $4 billion in proceeds from selling assets from its energy pipeline and infrastructure business. The company plans to sell its shares in Chesapeake Midstream Partners (NYSE:CHKM) for $2 billion to Global Infrastructure Partners and Chesapeake Midstream Development L.P. and other related assets to Global Infrastructure Partners for $2 million-plus in cash.
Investing Insights: Cash-Strapped Chesapeake Energy is Selling Assets.