The Rearview: Gold GLITTERS, Facebook’s Slide, and Amazon Steps on Netflix
Markets closed mixed on Wall Street today: Dow -0.36%, S&P -0.07%, Nasdaq +0.30%, Oil +0.84%, Gold +2.55%.
On the commodities front, Oil (NYSE:USO) rose to $95.52 a barrel. Precious metals also increased, with Gold (NYSE:GLD) rising to $1,700 an ounce while Silver (NYSE:SLV) rose 0.20% to settle at $32.30.
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Here’s your Cheat Sheet to today’s top stock stories:
Apple’s (NASDAQ:AAPL) iPhone 4S has fallen from its perch of being the top-selling smartphone in the U.S. for the first time since its launch in October, with Samsung’s Galaxy S III toppling its bitter rival. Samsung’s Google (NASDAQ:GOOG) Android-powered phone took the top spot in the month of August, according to Canaccord Genuity analyst Michael Walkley, as iPhone sales turned soft ahead of the expected launch of the next generation of the device.
Wal-Mart (NYSE:WMT) is said to be testing a new payment system that will allow shoppers to use their Apple (NASDAQ:AAPL) iPhones to scan items while shopping and then pay at a self-checkout counter. Walmart had its employees with participate in a test at a supercenter store near the company’s headquarters in Rogers, Arkansas.
J.P. Morgan delivered some bittersweet news for Facebook (NASDAQ:FB) on Tuesday, cutting its price target on the company’s stock, but still pegging it at about 66 percent higher than what the shares are trading at right now. Analyst Doug Anmuth wrote in a note to investors on Tuesday that Facebook will soon be worth $30 a share, down from the $45 target he made on June 27 while first recommending the stock. However, the social network was trading barely a shade above $18 on Tuesday morning.
Netflix Inc. (NASDAQ:NFLX) shares fell 7 percent on the news that Amazon.com (NASDAQ:AMZN) has a distribution agreement with Viacom Inc.’s (NYSE:VIA) Epix premium cable network. Investors are concerned that without Epix’s exclusivity for streaming on Netflix, Netflix would lose some of its consumer appeal.
First Solar Inc. (NASDAQ:FSLR) shares dropped 5 percent, continuing last week’s losses after reports came out that the company suspended solar-panel deliveries to its Arizona 397 megawatt Agua Caliente power plant.
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