Market Recap: Disney’s Revenge, Google’s Guilt, and More
Markets closed mixed on Wall Street today: Dow -0.23%, S&P +0.04%, Nasdaq +0.5%, Oil -0.35%, Gold -0.56%.
On the commodities front, Oil (NYSE:USO) declined to $97.97 a barrel. Precious metals also declined, with Gold (NYSE:GLD) falling to $1639.20 an ounce while Silver (NYSE:SLV) fell 0.36% to settle at $30.02.
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Here’s your Cheat Sheet to today’s top stock stories:
Disney’s (NYSE:DIS) movie, “The Avengers” opened over the weekend and dominated the box office from Friday to Sunday with an estimated $200.3 million in sales. This represents the biggest movie premiere in U.S. history. The previous record had been held by the last Harry Potter sequel. Potter’s opening weekend in 2011 saw almost $170 million from sales. Disney closed up 2.07% today to $43.82.
AIG (NYSE:AIG) dipped 3.4% to $31.73. The stock was under pressure after the insurer said the Treasury Department priced shares at $30.50 a share — the latest in a series of offerings of its stock. This time, the government’s putting up 163.9 million shares for sale as Washington continues to whittle down its equity from AIG’s 2008 bailout.
A mixed verdict was delivered in Oracle’s (NASDAQ:ORCL) patent suit against Google (NASDAQ:GOOG). The jury found Google guilty of violating Oracle copyrights by using Java APIs in Android, but found Google not guilty on other counts. Google is asking for a mistrial on account of the jury’s inability to answer a question regarding fair use of Oracle’s APIs.
With Intel (NASDAQ:INTC) expecting another record year in 2012, the company will increase its quarterly dividend by 7% to 22.5 cents a share, starting with the payout that will be declared for Q3. CEO Paul Otellini says the company is experiencing “strong demand in our core business and significant progress in smartphones and other new growth areas.”