Market Wrap: Apple Outshines Nokia, Krispy Kreme Shares Sweeten UP

Markets closed down on Wall Street today: 

Dow -0.39%, S&P -0.23%, Nasdaq -0.40%, Oil +1.37%, Gold -0.16%.

On the commodities front, Oil (NYSE:USO) declined to $88.36 a barrel. Precious metals also declined, with Gold (NYSE:GLD) falling to $1,589 an ounce while Silver (NYSE:SLV) fell 0.06% to settle at $27.29.

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

Nokia (NYSE:NOK) cut the price of its flagship smartphone in half just three months after its launch in an effort to bolster sales as rivals such as Apple (NASDAQ:AAPL) and Samsung continue to erode the smartphone maker’s market share. The cost of the Lumia 900 Windows phone has been reduced to $49.99 from $99 with a two-year agreement, Nokia spokesman Keith Nowak said on Sunday. The phone is sold at AT&T(NYSE:T) stores.

Don’t Miss: Will Lower-Priced Lumia Shine a Light on Nokia?

Apple (NASDAQ:AAPL) announced that it will rejoin EPEAT less than a week after it was withdrawing from the environmental standards organization. The Electronic Product Environmental Assessment Tool, or EPEAT, is a certifying body that helps institutional purchases select and compare electronic devices.

On Monday’s down start to the week, SuperValu Inc. (NYSE:SVU) shares rebounded after hitting a 32-year low on Friday. Shares increased 8.2 percent after Goldman Sachs (NYSE:GS) upgraded the stock to “Neutral” from “Sell.”

Krispy Kreme Doughnuts Inc.’s (NYSE:KKD) shares increased 5.3 percent after Stephens increased its rating on the retailer to “Overweight” from “Equalweight.”

On the downside, Woodward Inc. (NASDAQ:WWD) fell five percent at it announced a worse-than-expected third quarter outlook and cut its full-year forecast. It also noted lower-than-expected sales growth in its commercial aftermarket.

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