Mobile Map Market Wide Open, Zynga Gets Zinged: Weekly Market Recap

Here’s your Cheat Sheet to the top market moving headlines of the week:

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Monday

Markets were mixed today on Wall Street: S&P: +0.27%, Nasdaq: -0.09%, Dow: +.58%, Oil: +0.13%, Gold: 0.28%.

On the commodities front, Oil (NYSE:USO) rose to $92.31 per barrel. Precious metals were up with Gold (NYSE:GLD) rising to $1,778.90 per ounce, and Silver (NYSE:SLV) climbing 0.60% to $34.78 per ounce.

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

After Apple (NASDAQ:AAPL) dumped Google’s (NASDAQ:GOOG) mapping application from its latest iOS update only to replace it with an inferior Apple-built navigation program, the mobile map space is wide open, and Nokia (NYSE:NOK) and Oracle (NASDAQ:ORCL) are taking advantage of what may be their best chance to break into a market once dominated by Google. Nokia is expected to announce a deal giving Oracle customers access to Nokia’s mapping services.

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In morning trading on October 1, Bloomberg reported that Google’s market cap had passed that of tech giant and rival Microsoft (NASDAQ:MSFT). Also, Iran’s council on Internet filtering has unblocked Google’s Gmail after access was unintentionally denied last week as part of an effort to block YouTube.

Swiss mining company Xstrata (XTA.PK) will be asking its shareholders to support a revised $33 billion takeover bid from commodities trading giant Glencore (GLEN.PK). The new deal decouples a controversial $226 million compensation package for 70 of Xstrata’s top executives meant to prevent them from quitting as the power structure changes.

A major Apple investor said on Monday that the company was preparing to send out invites for an iPad Mini launch event this month. The investor told Fortune he had heard from “multiple sources” that invites will be sent out on October 10 for a media event scheduled for Wednesday, October 17. Also, Apple’s win over Samsung (SSNLF.PK) in the U.S. may not be the resounding victory it once seemed, as the South Korean electronics maker has convinced an appeals court to reconsider a sales ban won by Apple against its Galaxy Tab 10.1.

Don’t Miss: Will Nokia Feed on Apple’s Remains?

Tuesday

The markets were mixed today on Wall Street: S&P: +0.09%, Nasdaq: +0.21%, Dow: -0.24%, Oil: -0.85%, Gold: -0.31%.

On the commodities front, Oil (NYSE:USO) dropped to $91.69 per barrel. Precious metals were down with Gold (NYSE:GLD) falling to $1,777.80 and Silver (NYSE:SLV) falling 0.78% to $34.68.

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

Eric Schneiderman, the Attorney General of the State of New York, filed a 31-page complaint against JPMorgan Chase (NYSE:JPM) on October 1. Schneiderman is accusing the bank of failing to review residential mortgage-backed securities with due diligence, and systemically misleading investors about both the quality of their checks and the securities.

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Auto makers in the United States posted their sales numbers on October 2, and results came in below analyst expectations. Ford (NYSE:Fannounced total vehicle sales for September were down 0.1 percent from September 2011. This decline was led by a 7.6 percent drop in truck sales, which are Ford’s leading vehicle class. General Motors (NYSE:GMposted a 1.5 percent increase in total sales from September 2011, and a year-to-date retail gain of 3.2 percent. The two companies might be teaming up to work on more fuel efficient 8-, 9-, and 10-speed automatic transmissions.

European Union regulators are still analyzing whether the purchase of TNT Express by United Parcel Service (NYSE:UPS) would pose unfair competition to express delivery rivals FedEx (NYSE:FDX) and Deutsche Post’s (DPSTF.PK) DHL Worldwide Express. UPS agreed to buy TNT last March for 5.16 billion euros ($6.66 billion), or 9.5 euros per share. The purchase would expand the company’s delivery service throughout Europe and make UPS competitive with the industry’s market-share leader, Deutsche Post’s DHL.

Chinese search giant Baidu (NASDAQ:BIDU) has been getting beat up by analysts lately. Concerns over the company’s ability to monetize and competition from Qihoo 360 (NYSE:QIHU) have produced a line of downgrades and price target cuts. Jefferies, Raymond James, and Deutsche Bank have all recently cut their price targets.

Don’t Miss: Here’s Why Baidu’s Getting Beat Up.

Wednesday

Markets closed up today on Wall Street: S&P: +0.36%, Nasdaq: +0.49%, Dow: +0.09%, Oil: -4.21%, Gold: +0.26%.

On the commodities front, Oil (NYSE:USO) dropped to $88.02 per barrel. Precious metals were mixed with Gold (NYSE:GLD) climbing to $1,780.20 and Silver (NYSE:SLV) losing 0.08% to land at $34.640.

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

Best Buy (NYSE:BBY) lost 28 percent of its share value so far this year as it faces tough competition from online retailers like Amazon (NASDAQ:AMZN). Richard Schulze, founder and former CEO of the company, has begun putting together an $11 billion buyout bid. Schultz has said that he could buy Best Buy for between $8.16 billion and $8.84 billion, or $24 to $26 a share.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

 

S&P 500 (NYSE:SPY) component Family Dollar Stores Inc. (NYSE:FDO) reported its results for the fourth quarter. Family Dollar Stores operates more than 6,600 retail discount stores across the United States, offering consumables, home products, apparel accessories, seasonal and electronics. Read our full Family Dollar Stores Earnings Cheat Sheet.

Senior-level negotiations between the Pentagon and Lockheed Martin (NYSE:LMT) for a fifth shipment of F-35 fighter planes are approaching an agreement. General Electric (NYSE:GE) has also finalized an order for eighty-five 737 Boeing (NYSE:BA) airplanes, worth approximately $6 billion. The order, which was first announced at the Farnborough Airshow in July, allows for up to 15 additional 737-800s.

Deutsche Telekom (NYSE:DTE) is considering merging its T-Mobile division with MetroPCS (NYSE:PCS). The move would send $1.5 billion in cash to MetroPCS shareholders while Deutsche Telekom takes a 74 percent stake. The new entity would operate under the T-Mobile name. AT&T (NYSE:T) recently backed away from a bid for T-Mobile in the face of U.S. regulatory scrutiny.

Don’t Miss: Gold & Silver: Protection Against the Fed’s Punch Bowl.

Thursday

Markets closed up today on Wall Street: S&P: +0.72%, Nasdaq: +0.45%, Dow: +0.60%, Oil: +3.87%, Gold: +0.70.

On the commodities front, Oil (NYSE:USO) moved up to $91.55 per barrel. Precious metals were up with Gold (NYSE:GLD) rising to $1,792.20 per ounce and Silver (NYSE:SLV) climbing 0.98% to $35.03.

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

Hewlett-Packard (NYSE:HPQ) shares hit a nine-year low on Wednesday after CEO Meg Whitman warned of a steep decline in earnings next year, with revenues likely to fall in every business division except software. Wall Street had been hoping for a quicker turnaround under Whitman, who replaced Léo Apotheker as chief executive just over a year ago. Whitman’s plans to revive the company center on transforming it into an enterprise computing corporation that competes with the likes of IBM (NYSE:IBM) and Oracle (NASDAQ:ORCL).

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

Google (NASDAQ:GOOG) said it had identified additional areas in Motorola Mobility’s business where it planned to cut staff in its continuing attempts to restructure the newly acquired unit. It also expects to spend $390 million in severance and other related costs and said additional changes may result in other “significant” charges.

Coal stocks popped in morning trading on October 4, and Mitt Romney might be able to take credit. During a discussion on energy policies at the presidential debate on October 3, Romney said, “I like coal. I’m going to make sure we can continue to burn clean coal.” In the vacuum of any other news to catalyze movement, Arch Coal (NYSE:ACI) closed up 7.9 percent, James River Coal (NASDAQ:JRCC) closed up 11.7 percent, Peabody Energy (NYSE:BTU) closed up 4.06 percent, and Alpha Natural Resources (NYSE:ANR) closed up 6.83 percent.

Target (NYSE:TGT) announced that it will stop reporting monthly sales figures, instead releasing the numbers with quarterly financial results, in order to “create a longer-term focus and provide greater understanding of our sales results in the context of our overall financial performance.”

Meanwhile, retailers report numbers across the board, and The National Retail Federation expects holiday season – November and December – sales to increase 4.1 percent to $586.1 billion. NRF president and CEO Matthew Shay pointed to mobile for future retail growth.

Don’t Miss: Google Has This Bad News for Motorola.

Friday

Markets were mixed today on Wall Street: S&P: -0.03%, Nasdaq: -0.42%, Dow: +0.26%, Oil: -2.0%, Gold-0.72%.

On the commodities front, Oil (NYSE:USO) dropped to $89.96 per barrel. Precious metals were down, with Gold (NYSE:GLD) falling to $1,783.00 per ounce, and Silver (NYSE:SLV) dropping 1.37% to $34.62 per ounce.

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

The United States economy added 114,000 jobs in September, bringing the national unemployment rate down to 7.8 percent, the lowest it has been since January 2009. August’s job gains were also revised up from 96,000 to 142,000 Friday morning.

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Today’s New York Stock Exchange Opening Bell was rung by Fleetmatics (NYSE:FLTX) Chief Executive Jim Travers and members of his executive management team as they celebrated their company’s initial public offering. The IPO was priced at $17 per share, opened at $22.95, and closed at $22.30. Fleetmatics is a global provider of fleet management solutions for small and medium sized businesses.

Zynga (NASDAQ:ZNGA) cut its 2012 outlook for the second time on Thursday, sending shares tumbling on concerns that the social games maker will be unable to halt a steep decline in earnings. The company has lost three-quarters of its market value since going public in December, hit by delays in its game pipeline as older titles declined in popularity. The stock closed down 11.9 percent on October 5, at $2.48.

Square has officially begun processing credit card payments at more than 7,000 Starbucks (NASDAQ:SBUX) locations. Square joins PayPal (NASDAQ:EBAY) in the increasingly competitive mobile payment processing business. Starbucks is also adding heat to the single-serve coffee brewer market with its Verismo machine. Longtime industry leader Keurig, and its parent company Green Mountain Coffee Roasters (NASDAQ:GMCR), face increased competition in the space as related patents have expired. Wal-Mart (NYSE:WMT) also has a competing machine.

New York Attorney General Eric Schneiderman, who sued JPMorgan Chase (NYSE:JPM) earlier this week for allegedly defrauding investors, will investigate mortgage securities practices of at least a dozen other financial institutions. Twelve banks have agreed to suspend a deadline for Schneiderman to launch claims, Bloomberg said. The names of the other 11 are still under wraps, but possible suspects include Bank of America (NYSE:BAC).

Don’t Miss: Schneiderman Takes Aim: What Banks Will Be In His Crosshairs?