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On the commodities front, Oil (NYSE:USO) declined to $78.49 a barrel. Precious metals also declined, with Gold (NYSE:GLD) falling to $1,557 an ounce while Silver (NYSE:SLV) fell 0.58% to settle at $26.36.
Here’s your Cheat Sheet to today’s top stock stories:
News Corp.’s (NASDAQ:NWS)(NASDAQ:NWSA) board has reportedly approved the split of the $60 billion media group, which will likely result in the separation of its publishing and entertainment arms. Both the Wall Street Journal and Reuters reported that the separation could be announced later on Thursday.
Don’t Miss: Is News Corp Preparing to SPLIT?
As the 40-day quiet period following Facebook’s (NASDAQ:FB) IPO came to an end on Wednesday, analysts were quick to throw in their two cents on the stock, which has been on a rollercoaster ride since its May debut. BMO Capital Markets predicted that the stock, which hit a low of $25.61 on June 6 but has since rallied to $32.23, will sink again to $25. JPMorgan (NYSE:JPM) is much more optimistic, predicting it will rise to $45 — $7 above its IPO price — in the next 18 months.
J.P. Morgan Chase & Co. (NYSE:JPM) shares declined 2.45 percent after a New York Times report said that the banks’ trading loss could now reach $9 billion–an amount considerably higher than its initial $2 to $3 billion estimate. The paper cited unnamed sources for the growing amount, which had been based on an internal April report that reflected this number.
Research in Motion (NASDAQ:RIMM) met the low expectations for its first quarter earnings report. The company reported $2.8 billion in revenue, down 33 percent from the fourth quarter’s $4.2 billion; it came in below analysts’ $3.11 billion consensus. RIM also saw an adjusted $192 million loss ($0.37 per share); the Street had the company losing $0.01 per share. Additional bad news included a shipment delay of its BlackBerry OS 10 device until 2013′s first quarter.
Energy Transfer Partners (NYSE:ETP) dropped five percent after the company raised about $600 million through the offering of 13.5 million shares; they had a $44.57 per share price.
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