Market Recap: Apple FIRES UP New Historical Record as S&P Closes at 1,418
Markets closed down on Wall Street today: Dow -0.03%, S&P -0.00%, Nasdaq -0.01%, Oil -0.05%, Gold +0.23%.
Here’s your Cheat Sheet to today’s top stock stories:
Apple Inc.’s (NASDAQ:AAPL) shares increased 2.6 percent after it became the all-time most valuable company as defined by market capitalization on Monday. The company closed with a $623.5 billion market cap at its highest stock price ever of $665.15 per share, up from Friday’s $607.5 billion.
Coventry Health Care Inc. (NYSE:CVH) shares jumped 19 percent after Aetna Inc. (NYSE:AET) confirmed it will purchase the company in a cash and stock deal valued at $5.7 billion. With the transaction, Aetna will become one of the biggest providers in government-financed health care. Aetna’s shares increased over 5 percent on the news.
On the down side, ATP Oil and Gas Corp. (NASDAQ:ATPG)’s shares tanked 32 percent after the company said on Monday it will file for Chapter 11 bankruptcy.
Lowe’s Cos. (NYSE:LOW) shares fell 6 percent after it reported its second-quarter earnings results. The company said earnings dropped 10 percent in the quarter from margins being squeezed and declining same-store sales. With the weak numbers, Lowe’s cut its 2012 projections.