Market Mayhem: Oil LOVES Independence Day, Groupon FALLS APART, J.C. Penney HAMMERED
Markets closed up on Wall Street today:
Dow +0.56%, S&P +0.62%, Nasdaq +0.84%, Oil +4.55%, Gold +1.40%.
Here’s your Cheat Sheet to today’s top stock stories:
The U.S. International Trade Commission has refused Apple’s (NASDAQ:AAPL) request for an emergency customs ban on HTC smartphones, but the agency is looking into whether the handset maker’s redesigned phones still constitute infringement of Apple’s “data detectors” patent.
Don’t Miss: Is Apple Getting a NEW Look?
Little is known of Research in Motion’s (NASDAQ:RIMM) now-delayed BlackBerry 10 devices, but a leaked image of a proposed roadmap appears to show not only the release windows for the smartphone maker’s next line, but also what that line may contain. The roadmap, acquired by BlackBerryOS.com, shows that the company plans a 4G-enabled version of its PlayBook tablet, as well as a new 10-inch tablet.
Groupon Inc.’s (NASDAQ:GRPN) shares declined almost eight percent after its chairman, Eric Lefkofsky, wrote in a blog post that he will spend more time on his venture capital firm, Lightbank. Lefkofsky did not say anything about leaving his role at Groupon, but he did write that numerous hires by Andrew Mason in the last 18 months “has allowed me to focus on what I do best,” reported MarketWatch. This refers to his venture capitalist work.
Nanosphere Inc.’s (NASDAQ:NSPH) shares rose 18 percent after Jefferies upgraded the company to a “Buy” rating from “Hold.” Analysts noted positive expectations for the company’s blood stream infection test. It recently received U.S. Food and Drug Administration approval.
J.C. Penney Co.’s (NYSE:JCP) shares dropped 3.7 percent. It was one of the S&P’s worst performers thanks to a survey showing that retailers’ weekly sales increased at its slowest pace in at least nine weeks, reported MarketWatch.
Investing Insights: Gold and Silver See FIREWORKS Before July 4th.