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Markets closed down on Wall Street today: Dow -0.02%, S&P -0.05%, Nasdaq -0.41%, Oil -0.63%, Gold +0.17%.
Don’t Miss: Apple Roars Back With NEW Product Catalyst.
Here’s your Cheat Sheet to today’s top stock stories:
Apple (NASDAQ:AAPL) makes wider margins on iPhone sales than on iPads, according to documents recently unsealed for an upcoming patent trial versus Samsung. In the documents, it disclosed that the Cupertino-based company earned gross margins of 49 to 58 percent on U.S. iPhone sales between April 2010 and the end of March 2012. The iPad had much lower margins between October 2010 and the end of March 2012, seeing profits between 23 and 32 percent.
On this down day, Shaw Group Inc.’s (NYSE:SHAW) shares jumped 55 percent after the company announced early on Monday morning that it would be acquired by CB&I. The deal has a $3 billion value and will come from cash and stock.
Acura Pharmaceuticals Inc.’s (NASDAQ:ACUR) shares plummed almost 35 percent to $2. This come on news from Friday that Pfizer Inc. (NYSE:PFE) has ended its license to create three development-stage products from Acura’s technology.
Salix Pharmaceuticals Ltd.’s (NASDAQ:SLXP) shares fell 12 percent while Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) tanked 48 percent to $5.69. On Friday, the companies announced they had been asked by the U.S. Food and Drug Administration for additional clinical data for an adult treatment using opiods for pain.
On the technology front, Groupon’s (NASDAQ:GRPN) shares fell more than 10 percent from the Friday’s trading session; this triggered circuit breakers on the Nasdaq for short sellers. For the year-to-date, Groupon’s stock has dropped 67 percent.
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