Friday Finale: The iPad Mini, Juicy Jamba and RIM’s Rebound
Markets closed down on Wall Street Friday:
Dow -0.96%, S&P -0.94%, Nasdaq -1.30%, Oil -3.50%, Gold -1.57%.
On the commodities front, Oil (NYSE:USO) declined to $84.17 a barrel. Precious metals also declined, with Gold (NYSE:GLD) falling to $1,584 an ounce while Silver (NYSE:SLV) fell 0.55% to settle at $27.08.
Here’s your Cheat Sheet to Friday’s top stock stories:
The Wall Street Journal seems to have unearthed the most significant evidence that a much-rumored iPad Mini is on the way, just one day after Bloomberg published an article citing anonymous sources who said Apple (NASDAQ:AAPL) plans to debut a cheaper, smaller iPad by year’s end. Apple component suppliers in Asia are, according to the WSJ, preparing for mass production in September of a tablet computer with a smaller screen than the iPad, suggesting that the launch date isn’t far off.
Research in Motion’s (NASDAQ:RIMM) shares rose 5% as its tech brethren fell. The BlackBerry manufacturer incurred trading losses in the last week after announcing a fiscal first quarter loss and delays in the launch for its operating system BlackBerry 10. The jump also came on news from its rivals Sprint (NYSE:S) and Apple (NASDAQ:AAPL)’s new Mozilla operating system and new iPhone model rumors.
Jamba Inc.’s (NASDAQ:JMBA) shares increased 10 percent on possible expectations for a rise in heat wave-related sales for the company’s Jamba Juice smoothie retail chain, reported MarketWatch. It also recently announced a U.S. Olympic water polo team partnership and new menu with healthier options.
Informatica Corp.’s (NASDAQ:INFA) shares declined 29 percent after the company dropped its second-quarter earnings forecast. It cited the evolving global economic conditions, notably in Europe as a reason.
Christopher & Banks Corp.’s shares (NYSE:CBK) dropped around five percent after the company said its board of directors had rejected an unsolicited acquisition proposal from Aria Partners for $1.75 per share, reported MarketWatch. It said that its “new management team’s strategic plan … has already begun to demonstrate signs of progress.”
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