Market Recap: Stocks SKYROCKET, Facebook CRASHES 11%, Expedia FLIES
Markets closed up on Wall Street today: Dow +1.46%, S&P +1.91%, Nasdaq +2.24%, Oil +0.97%, Gold +0.46%.
On the commodities front, Oil (NYSE:USO) rose to $90.26 a barrel. Precious metals also increased, with Gold (NYSE:GLD) rising to $1,627 an ounce while Silver (NYSE:SLV) rose 0.28% to settle at $27.73.
Here’s your Cheat Sheet to today’s top stock stories:
A London court today granted Apple’s (NASDAQ:AAPL) proposal to postpone a controversial order given earlier this month that would require the company to post a public notice on its U.K. website as well as several British newspapers relaying the court’s ruling that Samsung’s Galaxy tablets do not infringe on the iPad’s design patents. The reprieve will remain in effect until October, when Apple will have a chance to appeal the decision in a British courtroom.
Thanks to Facebook Inc. (NASDAQ:FB) and Starbucks Corp. (NASDAQ:SBUX) shares declining in the double-digits, they activated Nasdaq’s short-sale circuit breakers today (occurs when stocks fall 10 percent or higher from the previous trading session), reported MarketWatch. For the day, Facebook fell 12 percent after reporting its $157 million second quarter loss on Thursday while Starbucks closed down 9.4 percent after announcing its fiscal third-quarter profit increased 19 percent with a disappointing outlook.
Amazon Inc. (NASDAQ:AMZN) had a good day as its shares rose almost 8 percent to close at $237.32 after reporting its second quarter earning after the close on Thursday. The company’s earnings fell from the previous year but its North American sales increased and gross margin at 26 percent was Amazon’s highest level last seen seven years ago.
Expedia Inc.’s (NASDAQ:EXPE) shares jumped more than 20 percent to $54.90. On Thursday, the company announced its second-quarter earnings that exceeded expectations as well as its revenue numbers.
Coinstar (NASDAQ:CSTR) tumbled, declining more than 13 percent to $51.16. After the close on Thursday, the company announced a 38 percent rise in its second-quarter profit from the previous year but reported a weaker-than-expected forecast for the remainder of 2012 thanks to kiosk replacement expenses from NCR.