Market Recap: Oil Prices DECLINE, RIM CONSIDERS Handset Split

Markets closed down on Wall Street today: 

Dow -1.09%, S&P -1.60%, Nasdaq -1.95%, Oil -0.58%, Gold +1.12%.

On the commodities front, Oil (NYSE:USO) declined to $79.36 a barrel. Precious metals rose, with Gold (NYSE:GLD) increasing to $1,585 an ounce while Silver (NYSE:SLV) rose 0.88% to settle at $27.54.

Here’s your Cheat Sheet to today’s top stock stories:

Research in Motion (NASDAQ:RIMM) is considering splitting its handset manufacturing division, responsible for the once-popular BlackBerry smartphone, from its messaging network, according to a Sunday Times report. The British newspaper said RIM, which last month hired JPMorgan (NYSE:JPM) and RBC Capital to look at its strategic options, could break off its handset division into a separately listed company, or sell it.

Facebook (NASDAQ:FB) has begun displaying ads on Zynga’s (NASDAQ:ZNGA) website, the first time the company has gone outside the borders of its own site. The move increases the likelihood that some time down the road Facebook could have its own online advertising network, according to a Reuters report.

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Apple (NASDAQ:AAPL) may have another public relations nightmare on its hands after The New York Times profiled the company and took a closer look at its popular retail stores, where employees have “enjoyed little” of the company’s great financial success. Roughly 30,000 of Apple’s 43,000 employes in the U.S. work at the company’s retail stores, according to the report, which was published this weekend.

Chesapeake Energy Corp.’s (NYSE:CHK) shares fell almost 8 percent after a Reuters story said the company conspired with a Canadian competitor to keep land prices stable in areas perceived to have a wealth of oil and natural gas.

Citigroup’s (NYSE:C) shares dragged the financial sector down, falling 5 percent, on news that the Spanish government made a request for aid. This came through a letter sent by Finance Minister Luis de Guindos to Eurogroup President Jean-Claude Juncker.

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