Google Hits High in its Birthday Week, RIM’s Comeback: Weekly Market Recap

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

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Monday

Markets closed down today on Wall Street: S&P -0.22%, Nasdaq -0.60%, Dow -0.15%, Oil -0.99%, Gold -0.64%.

On the commodities front, Oil (NYSE:USO) dropped to $92.04 a barrel. Precious metals were down, with Gold (NYSE:GLD) falling to $1,767.10 per ounce, and Silver (NYSE:SLV) dropping 1.74% to $34.04.

Don’t Miss: Fundamental and Technical Indicators Glitter for Gold.

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

After seeing something of a rally in the last month, shares of Facebook (NASDAQ:FB) closed down 9.06 percent, and Barron’s may be to blame, with a cover story suggesting the stock is only worth $15 causing a frenzy over the weekend. Zynga (NASDAQ:ZNGA), largely dependent on Facebook’s success, closed down 9.12 percent.

S&P 500 (NYSE:SPY) component Lennar Corporation (NYSE:LEN) reported net income above Wall Street’s expectations for the third quarter. Lennar builds affordable move-up and retirement homes primarily under the Lennar brand name throughout the United States. Read our full Lennar Earnings Cheat Sheet.

Google (NASDAQ:GOOG) climbed 2.1 percent to hit an all-time high today of $750.04, smashing the average price target of $743. According to eMarketer, Google is on track to beat out Facebook in display ad revenue.

Apple (NASDAQ:AAPL) is seeking higher damages from Samsung than it was originally awarded by a U.S. jury in August. The jury ruled that Samsung had willfully infringed several design and user-interface features of Apple’s iPhone, and awarded the Cupertino-based company $1.05 billion in damages. Apple is now demanding more extensive damages, calling for the award to be increased by $707 million. Apple is also calling for a U.S. sales ban on 26 of Samsung’s mobile devices.

Apple said it sold more than five million iPhone 5 units in the three days since the phone reached stores, but the record-breaking number was still under analyst expectations. According to Bloomberg, the company is expected to report profit of about $8.3 billion on sales of $36.1 billion. These sales will be part of Apple’s financial results for the fiscal fourth quarter ending September 30.

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

Tuesday

Markets closed down today on Wall Street: S&P -1.05%, Nasdaq -1.36%, Dow -0.75%, Oil -1.23%, Gold -0.08%.

On the commodities front, Oil (NYSE:USO) moves to $90.80 a barrel. Precious metals were mixed, with Gold (NYSE:GLD) falling slightly to $1,763.20 per ounce, and Silver (NYSE:SLV) falling 0.56% to $33.79.

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

According to the S&P/Case-Shiller Home Price Index, home prices are up again. Data released on September 25 indicates that the 10-City Composite posted annual returns of 0.6 percent, with average home prices increasing by 1.5 percent. The 20-City Composite posted returns of 1.2 percent, and a 1.6 percent climb in prices.

Don’t Miss: Here Are the Housing and Consumer Confidence Numbers Everyone’s Chatting About.

The good housing news continues with U.S. consumer confidence hitting a seven-month high. The Conference Board Consumer Research Center announced that the Index stands at 70.3, a nine point increase from August.

Google (NASDAQ:GOOG) won’t be coming to the rescue of Apple (NASDAQ:AAPL) iOS 6 users who miss its Maps service, at least not any time soon, according to executive chairman Eric Schmidt. Google has no intention to develop a dedicated app of its Maps service for iOS 6, Schmidt said at a Tokyo press event on Tuesday.

While Barnes & Noble’s (NYSE:BKS) book-selling business has benefited from the demise of former rival Borders, the bookseller announced Tuesday that it will launch Nook Video in the fall, as part of an effort to stimulate growth. To date, shares in the company are down 12 percent this year. Nook Video will not be a subscription service, but rather movies and television shows will be offered as downloads and as streaming video, similar to Amazon’s (NASDAQ:AMZN) Instant Video and Google’s Play.

Shares of the electric car manufacturer Tesla (NASDAQ:TSLA) are under siege. On Tuesday morning, after warning that it had fallen behind on its production goals for the Model S sedan, the company cut its sales target for 2012 and announced a follow-on offering of 4.34 million shares of its common stock. Stock prices fell almost 14 percent, to $26.43 as a result.

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

Wednesday

Markets closed down today on Wall Street: S&P -0.57%, Nasdaq -0.77%, Dow -0.33%, Oil -1.50%, Gold -0.71%.

On the commodities front, Oil (NYSE:USO) dropped to $90.00 a barrel. Precious metals were mixed with Gold (NYSE:GLD) falling to $1,754.90 per ounce, and Silver (NYSE:SLV) climbing 0.14% to $33.99.

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

Though likely to be a short-lived bounce, Research in Motion (NASDAQ:RIMM) is trading up after announcing an unexpected increase in subscriber numbers on Tuesday. The pioneer and once-dominant smartphone maker has in recent years lost market share in North America to Apple (NASDAQ:AAPL) and Samsung, which produce more user-friendly, multipurpose phones, causing shares to lose 93 percent of their value in the 5 years since the first iPhone hit the market.

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

In a move that places the company in direct competition with Amazon (NASDAQ:AMZN) and Salesforce.com (NYSE:CRM), International Business Machines (NYSE:IBM) announced Wednesday its plans to take aim at a new market by increasing its efforts to sell cloud computing services to midsize businesses. To aid in the company’s expansion, IBM has sourced Infor Global Solutions. According to former Oracle (NASDAQ:ORCL) executive and the company’s current CEO Charles Phillips, Global Solutions will be providing financing and marketing support.

Barnes & Noble (NYSE:BKS) upped its game on Wednesday, unveiling its own lighter and thinner high-definition tablets at half the price of Apple’s iPad, and with features and pricing similar to Amazon’s Kindle Fire. Just in time for the crucial holiday shopping season — the new Nook tablets go on pre-sale today and ship in October — Barnes & Noble will also be taking its Nooks across the pond, where they will debut in November at U.K. chains including Sainsbury’s and Waitrose.

The problems plaguing RadioShack (NYSE:RSH) are piling up. Shares in the electronics retailer have dropped 74 percent since the beginning of the year, dividends were suspended in July, selling lower-margin Apple iPhones have eaten into the retailer’s margins, Best Buy’s (NYSE:BBY) smaller-sized stores have increased competition, and Chief Executive Officer James Gooch left the company Wednesday after a 16-month term.

Don’t Miss: Is RadioShack in Trouble?

Thursday

Markets closed up today on Wall Street, ending a five-day slide: S&P: +0.96%, Nasdaq: +1.39%, Dow: +0.54%, Oil: +2.36%, Gold: +1.50%.

On the commodities front, Oil (NYSEARCA:USO) rose to $92.10 a barrel. Precious metals were up with Gold (NYSEARCA:GLD) climbing to $1,779.90 per ounce, and Silver (NYSEARCA:SLV) climbing 2.24% to $34.70 per ounce.

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

According to a report in the electronics publication Digitimes, Google (NASDAQ:GOOG) plans to compete with the rumored Apple (NASDAQ:AAPL) iPad mini in the form of a cheaper, thinner version of the Nexus 7. The original Google device has gained market share over both Apple and Amazon (NASDAQ:AMZN) since its release in mid-July. According to data compiled by analytics firm Chitika, the Google Nexus accounts for 68.5 percent of tablet Web traffic in the United States and Canada.

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

Thursday morning, the U.S. Securities and Exchange Commission charged Goldman Sachs (NYSE:GS) and one of its former investment bankers with giving undisclosed campaign contributions to then-Massachusetts state treasurer Timothy P. Cahill during his bid for governor. The SEC said the alleged infringement was a “pay-to-play” violation, which, according to the regulator’s press release involves, “campaign contributions or other payments made in an attempt to influence the awarding of lucrative public contracts for securities underwriting business.”

On Thursday, the European Commission released a statement detailing a new strategy for “unleashing the potential of cloud computing in Europe.” By 2020, the plan is expected to create 2.5 million jobs, and boost European GDP by 1 percent annually. Among those U.S. companies that could benefit from European cloud computing needs are: Amazon, Apple, Cisco (NASDAQ:CSCO), Dell (NASDAQ:DELL), Google, IBM (NYSE:IBM), Intel (NASDAQ:INTC), Microsoft (NASDAQ:MSFT), and Oracle (NASDAQ:ORCL).

Wednesday’s positive housing and consumer confidence numbers are followed on Thursday by low economic growth indicators. The United States Commerce Department revised the annual growth of real GDP in the second quarter of 2012 down to 1.3 percent from 1.7 percent reported in August. According to the Department of Labor, the four-week moving average for jobless benefits claims dropped to 374,000.

Don’t Miss: Europe’s Massive Cloud Strategy Could Help U.S. Companies.

Friday

Markets closed down today on Wall Street: S&P: -0.45%, Nasdaq: -0.65%, Dow: -0.36%, Oil: +0.16%,  Gold: -0.34%.

On the commodities front, Oil (NYSE:USO) ticked up to $92.00 a barrel. Precious metals were down with Gold (NYSE:GLD) falling to $1,774.50 per ounce, and Silver (NYSE:SLV) dropping 0.32% to $34.55 per ounce.

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

Research In Motion (NASDAQ:RIMM) has pulled a couple of surprise punches for investors lately. Just a few weeks ago, headlines were that RIM was dead. Now, on September 28, shares closed up 5.04 percent after surging over 12 percent in morning trading. Here’s a snapshot of the conversation surrounding the company as it went from zero to hero in a matter of weeks.

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

Facebook (NASDAQ:FB) is mounting competition for companies like Amazon (NASDAQ:AMZN) and eBay (NASDAQ:EBAY) as it takes its first steps toward becoming an e-commerce platform, this week launching a feature for users to buy and send real gifts. Beginning Thursday, Facebook users can purchase and ship products from more than a hundred “Facebook Gifts” vendors. Products include Starbucks (NASDAQ:SBUX) coffee, pastries from New York’s famous Magnolia Bakery, and cookie greetings from 1800 Flowers.

Whale watchers are well aware the largest holding in the Berkshire Hathaway (NYSE:BRKA) portfolio managed by investing titan Warren Buffet is Coca-Cola (NYSE:KO).  Over the years Buffet has amassed $15.7 billion dollars in KO shares, representing an 8.9% stake in the iconic blue chip. For some investors, that is reason enough to gulp down some shares of Coke, but most mere mortals look for reasons to buy beyond Buffet likes it. We analyzed the stock with the relevant sections of our CHEAT SHEET investing framework.

Nike (NYSE:NKE) released its first quarter fiscal 2013 results on September 27. Here are the highlights:

  • Revenues increased 10 percent to $6.7 billion.
  • Net income decreased 12 percent to $567 million.
  • Diluted earnings per share were down 10 percent to $1.23.
  • Worldwide futures orders grew 6 percent.
  • Inventories were up 10 percent.

Don’t Miss: Is RIM a Cinderella Story?