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Markets closed up on Wall Street today: Dow +0.65%, S&P +0.71%, Nasdaq +1.04%, Oil +0.93%, Gold +0.63%.
On the commodities front, Oil (NYSE:USO) rose to $95.21 a barrel. Precious metals also increased, with Gold (NYSE:GLD) rising to $1,616 an ounce while Silver (NYSE:SLV) rose 0.35% to settle at $28.16.
Here’s your Cheat Sheet to today’s top stock stories:
Apple (NASDAQ:AAPL) has rejected the U.S. Department of Justice’s settlement proposal that would have the iPad maker dismantle its current e-book business structure with three major publishing houses. In a strongly-worded legal memo filed on Wednesday, Apple said that the proposed judgment would “terminate and rewrite Apple’s bargained-for contracts” before evidence, witness testimony, and disputed facts were resolved at trial. The Court’s decision would be final and irreversible.
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Cisco’s (NASDAQ:CSCO) shares jumped more than 9 percent, representing its greatest single-day percentage increase since August 2011. This came after the company reported a 56 percent rise in its fiscal fourth-quarter earnings. It will raise its quarterly dividend payment by 75 percent to 14 cents a share.
Facebook (NASDAQ:FB) shares dropped 6.3 percent in response to the expiring lockup period for insiders to sell their IPO stock; from this, about 271 million shares of Facebook’s stock could hit the market on Thursday. Since going public on May 18, Facebook’s shares have dropped almost 50 percent from its $38 a share price. More than 1.3 billion additional Facebook shares will go on the market before year’s end as more lockup deadlines expire.
Agilent Technologies Inc. (NYSE:A) shares fell 8 percent after it reporting on Wednesday weaker-than-expected quarterly report and outlook. It referred to an “environment of much slower growth” and subsequently cut its profit and sales forecast for the fiscal year.
PulteGroup Inc.’s (NYSE:PHM) shares rose 6.4 percent from the news that the National Association of Home Builders/Wells Fargo housing market index increased 2 points to a seasonally-adjusted reading of 37; this is the greatest level since February 2007. The data suggest that the housing recovery can continue.
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