Weekly Market Recap: Apple Seeks to Ban Samsung Smartphones, Ciena Sinks 20%

Monday

Markets closed mixed on Wall Street today: Dow -0.25%, S&P -0.05%, Nasdaq +0.11%, Oil -0.46%, Gold -0.42%.

On the commodities front, Oil (NYSE:USO) declined to $95.75 a barrel. Precious metals were mixed, with Gold (NYSE:GLD) falling to $1,666 an ounce while Silver (NYSE:SLV) rose 0.04 to settle at $30.66.

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

A high-resolution display bound for a rumored 13-inch MacBook Pro (NASDAQ:AAPL) with Retina display is now in production, according to an analyst citing upstream supply chain sources, with initial output volumes expected to be higher than the current 15-inch version. According to NPD DisplaySearch analyst Richard Shim, the display purportedly being produced for the smallest MacBook Pro has a resolution of 2,560-by-1600 pixels, compared to the current version’s 1,280-by-800 pixel screen.

Meanwhile, Apple’s shares continued to rise after Friday’s Samsung verdict and on Monday, it hit a new high of $680.87.

Nokia Corp.’s (NYSE:NOK) shares rose 8 percent after analysts said the company could see a rise in sales after Friday’s federal jury ruling against rival Samsung Electronics Co.

Kenexa Corp.’s (NASDAQ:KNXA) shares jumped 42 percent. This came after International Business Machines Corp. (NYSE:IBM) announced it  would acquire the company for $46 per share, or about $1.3 billion.

Tiffany & Co.’s (NYSE:TIF) shares increased 7.6 percent after the company cut its fiscal-year sales and profit outlooks. This came in less than what many had anticipated. One analyst noted, “They missed on the top and bottom line, and yet the stock is up, which is counter to what one would have anticipated, but expectations were for a much bigger miss.”

Sarepta Therapeutics Inc.(SRPT) shares rose 13 percent after ThinkEquity began coverage with a “Buy” rating. Over the weekend, a  Barron’s story emphasized the one of company’s developing drug may provide an inaugural effective treatment for the severest form of muscular dystrophy.

Tuesday

Markets closed mixed on Wall Street today: Dow -0.17%, S&P -0.43%, Nasdaq +.13%, Oil +0.60%, Gold -0.36%.

On the commodities front, Oil (NYSE:USO) declined to $96.06 a barrel. Precious metals also declined, with Gold (NYSE:GLD) falling to $1,670 an ounce while Silver (NYSE:SLV) fell 0.20% to settle at $30.85.

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

After Facebook’s (NASDAQ:FB) problematic public debut in May, the Securities and Exchange Commission is reportedly rethinking pre-IPO quiet-period rules. SEC Chairwoman Mary Schapiro says in a letter to Representative Darrel Issa (R-Calif.) that her staff is reviewing rules about what information companies can release prior to their offerings, according to Reuters, which obtained a copy of the letter.

Don’t Miss: Why is Facebook Stirring Up TROUBLE?

Apple (NASDAQ:AAPL) is wasting no time in seeking to ban the sale of Samsung smartphones in the U.S. after its legal victory over the South Korean electronics company last week. While a jury awarded Apple just over $1 billion in damages, the true benefit of the California-based company’s win could come in the opportunity to stifle some of its biggest competition. Apple is seeking bans on the sale of eight older-model Samsung smartphones, including the Galaxy S2 and the Droid Charge.

Lexmark International Inc.’s (NYSE:LXK) shares increased 17 percent. The company said it planned to leave the ink-jet-printer business and slash 1,700 jobs.

Movado Group Inc.’s (NYSE:MOV) shares jumped 17 percent after the company increased its forecast for 2012. Profit for this fiscal year will come in around $1.40 a share, up from its previous $1.15 forecast. Tuesday’s rise represented the greatest share gain since December 2010.

SeaBright Holdings Inc.’s (NYSE:SBX) shares rose 32 percent after the company said on Monday that Enstar Group Ltd. (NASDAQ:ESGR) had purchased it for about $249 million ($11.11 a share).

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

Wednesday

Markets closed up on Wall Street today: Dow +0.03%, S&P +0.08%, Nasdaq +0.13%, Oil -0.23%, Gold -0.21%.

On the commodities front, Oil (NYSE:USO) declined to $95.25 a barrel. Precious metals also declined, with Gold (NYSE:GLD) falling to $1659 an ounce while Silver (NYSE:SLV) fell 0.17% to settle at $30.70.

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

Apple (NASDAQ:AAPL) has added the iPhone 4S to its Reduce and Recycle program, contributing to the buzz that the next-generation of the device may be coming very soon. The program is designed to let owners of Apple products recycle their device and receive a company gift card in return. Not a bad way to fund the new phone, whenever it comes.

Yelp Inc.’s (NYSE:YELP) shares increased 22 percent. This came as the lockup period expired for 52.7 million of the company’s post-IPO shares.

WellPoint Inc.’s (NYSE:WLP) shares rose 7.7 percent. On Tuesday, the company announced the resignation of its chief executive officer.

Molycorp’s (NYSE:MCP) shares increased 13 percent after its stock had been upgraded. The company also announced this week it started  new heavy rare-earth concentrate operations at Mountain Pass, Calif. It also closed its public offerings of convertible senior notes and common stock.

On the down side, Baidu’s (NASDAQ:BIDU) shares dropped 6.2 percent after Barclays cut the company’s price target to $153.

Thursday

Markets closed down on Wall Street today: Dow -0.81%, S&P -0.78%, Nasdaq -1.05%, Oil -0.75%, Gold -0.32%.

On the commodities front, Oil (NYSE:USO) declined to $94.77 a barrel. Precious metals also declined, with Gold (NYSE:GLD) falling to $1658 an ounce while Silver (NYSE:SLV) fell 0.18% to settle at $30.66.

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

Exactly one week before Amazon (NASDAQ:AMZN) is expected to unveil a new Kindle line, the company announced that its Kindle Fire tablet was sold out. The company is scheduled to hold a press event on September 6, where it is widely expected to release a new version of the Fire.

“Kindle Fire is sold out, but we have an exciting roadmap ahead,” chief executive Jeff Bezos said in a news release on Thursday. “We will continue to offer our customers the best hardware, the best prices, the best customer service, the best cross-platform interoperability, and the best content ecosystem.”

Google (NASDAQ:GOOG) is looking to sell off Motorola Mobility’s set-top boxes and related equipment manufacturing unit and is enlisting the help of Barclays (NYSE:BCS) to find buyers. The search company  is hoping to get about $2 billion for the unit, according to Bloomberg.

Pandora’s (NYSE:P) shares increased 14 percent. On Wednesday, the company reported that in the second quarter, it broke even on an adjusted per-share basis. Revenue increased to $89.4 million from the previous year’s $58.3 million. Pandora issued a better-than-expected third quarter revenue forecast.

On the down side, Ciena’s (NASDAQ:CIEN) shares dropped 20 percent. The company reported a better third quarter fiscal loss than compared to the prior year. But it did forecast lower sales than analysts’ estimates.

Vera Bradley’s (NASDAQ:VRA) shares declined 9 percent. The company’s fiscal second-quarter earnings dropped 1.9 percent as margins weakened while revenue improved. Earnings came in low and the company cut its full-year guidance.

Friday

Markets closed up on Wall Street today: Dow +0.69%, S&P +0.51%, Nasdaq +0.60%, Oil +2.09%, Gold +2.23%.

On the commodities front, Oil (NYSE:USO) rose to $96.58 a barrel. Precious metals also increased, with Gold (NYSE:GLD) rising to $1,694 an ounce while Silver (NYSE:SLV) increasing 1.32% to settle at $31.69.

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

A high-resolution display bound for a rumored 13-inch MacBook Pro (NASDAQ:AAPL) with Retina display is now in production, according to an analyst citing upstream supply chain sources, with initial output volumes expected to be higher than the current 15-inch version. According to NPD DisplaySearch analyst Richard Shim, the display purportedly being produced for the smallest MacBook Pro has a resolution of 2,560-by-1600 pixels, compared to the current version’s 1,280-by-800 pixel screen.

One of Facebook’s (NASDAQ:FB) four co-founders sold off 450,000 shares of the stock over three trading days last week, netting him $9 million. Though selling only a small share of his $2 billion stake, Dustin Moskovitz’s decision to sell just as the lockup expired is the kind of news that has investors running scared, and has sent shares to new lows over the past week.

Also on Friday, Facebook’s shares fell 5.4 percent after Bank of America Merrill Lynch cut its price target to $23 from $35.

Google (NASDAQ:GOOG) is looking to sell off Motorola Mobility’s set-top boxes and related equipment manufacturing unit and is enlisting the help of Barclays (NYSE:BCS) to find buyers. The search company  is hoping to get about $2 billion for the unit, according to Bloomberg.

Splunk Inc.’s (SPLK) shares increased 13 percent. On Thursday, the company said that its fiscal second-quarter loss expanded but it increased its full-year revenue guidance; revenue forecasts also exceeded estimates for the latest quarter.

Thompson Creek Metals Co.’s (NYSE:TC) jumped 12 percent after Dahlman Rose increased its rating on the stock to “Buy” from “Hold.”

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>