Not a Fun Friday for Former Goldman Director Gupta; US Stocks Rise (GS, AAPL)

Markets finish Friday with gains thanks to optimism global central banks with interject themselves into the European economic fiasco to provide support. Despite the positive vibes gained globally, the US saw a few discouraging economic reports. Unemployment rose in 18 out of 50 states in May, and factory production within the country fell as well. The big news on Wall Street was former Goldman Sachs (GS) Director Rajat Gupta being found guilty of insider trading, as expected. Apple (AAPL) and Motorola (MOT) have revived their patent wars, as well.

Word on the Street

• US stocks move forward with eyes on global central bank intervention in Greece.
• Former Goldman Sachs (GS) Director Gupta found guilty of insider trading.
• Unemployment rises in 18 out of 50 states in May.
• OPEC head predicts oil at $110 per barrel, a $25 rise.
• US factory production declines in May.
• Microsoft (MSFT) ready to enter the tablet wars.
• Apple (AAPL) and Motorola (MOT) revive their patent battle.
• McDonald’s (MCD) loses grip in Asia but keeps hold in US and Europe.

Interesting Tidbits

• Microsoft is rumored to be buying Yammer – what does the industry think?
• Revelations and reflections on what it’s like to be the CEO.