Market Wrap: Gold GLITTERS as Apple’s Innovation is Analyzed
Markets closed down on Wall Street today:
Dow -1.14%, S&P -1.26%, Nasdaq -1.70%, Oil -3.22%, Gold +0.59%.
On the commodities front, Oil (NYSE:USO) declined to $81.42 a barrel. Precious metals rose, with Gold (NYSE:GLD) increasing to $1601 an ounce while Silver (NYSE:SLV) increased 0.12% to settle at $28.59.
Here’s your Cheat Sheet to today’s top stock stories:
News that Apple’s (NASDAQ:AAPL) MacBook Pro line won’t get quite the makeover that had been hoped for doesn’t seem to have dampened the mood ahead of the annual Worldwide Developers Conference, which kicked off today — at least, not for investors. Apple shares were up 1.25 percent less than an hour before the conference was scheduled to begin with a keynote address by CEO Tim Cook. However, shares fell with the pressure of the overall market wave to finished the day 1.58% lower.
Investing Insights: Meet Apple’s GORGEOUS New iPhone 5>>
Ampio Pharmaceuticals Inc. (NASDAQ:AMPE) shares jumped 11 percent. The company announced positive clinical trial results for Optina, its new diabetes-related drug.
IntegraMed America Inc. (NASDAQ:INMD) shares rose 21 percent. The company agreed in a cash deal to become private; it has been valued at about $169.5 million, according to MarketWatch. In an agreement with Sagard Capital Partners LP, shareholders will receive $14.05 per share–a 24 percent premium from IntegraMed’s closing price on Friday.
Centene Corp. (NYSE:CNC) shares dropped 26 percent after it cut its full-year earnings forecast. It noted higher-than-expected medical costs in Kentucky and Texas and from its Celtic business; the company could face another potential write-down.
EnergySolutions (NYSE:ES) saw its shares fall 54 percent after lowering its outlook for adjusted 2012 earnings before interest, taxes, depreciation and amortization to the $130 million to $140 million range; this is down from the previous $150 million to $160 million. The company also named director David Lockwood as the chief executive, reported MarketWatch.