Market Recap: Stocks Rebound, Apple Loses, Autodesk Tanks

Markets closed down on Wall Street today: Dow +0.77%, S&P +0.65%, Nasdaq +0.54%, Oil -0.16%, Gold +0.04%.

On the commodities front, Oil (NYSE:USO) declined to $96.12 a barrel. Precious metals rose, with Gold (NYSE:GLD) increasing to $1,673 an ounce while Silver (NYSE:SLV) rose 0.30% to settle at $30.76.

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

Samsung won a small victory against Apple (NASDAQ:AAPL) in South Korea on Friday when a judge said the company didn’t copy the look and feel of Apple’s iPhone, but rather, the iPhone infringed on Samsung’s wireless technology. The panel ruled that Samsung violated the Apple technology behind the bounce-back feature when scrolling on touch screens, and ordered both sides to pay limited damages.

Madison Square Garden Co.’s (NASDAQ:MSG) shares rose 5 percent. Before the bell on Friday, the company announced its fourth-quarter earnings beat estimates. Helping Madison Square Garden’s numbers was the New York Rangers and the New York Knicks playoff games.

Supervalu’s (NYSE:SVU) shares increased 10 percent. Bloomberg reported that the company asked their suitors bidding on portions of the company to instead make offers for all of it.

On the downside, Autodesk Inc.’s (NASDAQ:ADSK) shares tanked 15 percent. The company reported that its second-quarter profit declined 9.3 percent. Its revenue missed expectations and the company cut its top-line forecast for the full fiscal 2012. On Thursday, Autodesk said it planned to cut employees through a restructuring effort as it concentrates on the shift to cloud and mobile computing.

Shoe Carnival Inc.’s (NASDAQ:SCVL) shares dropped 5 percent. The company reported a second quarter profit of 14 cents a share as compared to the previous year’s but it exceeded management’s earnings estimate. Sales increased 9 percent to $182.2 million and comparable-store sales rose 3 percent. Shoe Carnival issued a third quarter forecast with earnings in the 55 cents to 60 cents a share range, up from the prior year’s 52 cents a share.