Apple Breaks Record, Stocks See Little Change on Monday (AAPL, AET)
PUBLISHED ON: Aug 20, 2012
On Monday European leaders began another round of negotiations and plans for Greece and Spain and at the same time quelled rumors over certain market intervention. Stocks ended with little change after six weeks of gains and gas prices have reached an all time high for August. Aetna Inc. (AET) made a big announcement about plans to acquire Coventry Health Care for $7.3 billion. Apple (AAPL) has now reached a new high in share price and has surpassed the previous record set by Microsoft (MSFT) nearly a decade ago.Investors await news from the Feds last meeting that will be released later this week. Gold futures are currently at a two-month high.
Word on the Street
- Apple (AAPL) has become the most valuable public company of all time, surpassing $620 billion and Microsoft (MSFT).
- Aetna (AET) announces plan to buy Coventry Health Care for $7.3 billion.
- Lowes (LOW) misses expectations for second quarter earnings and cuts its full-year-earnings outlook.
- Oil prices are at an August record in the US, averaging $3.72 per gallon on Monday.
- Best Buy (BBY) hires a new CEO, making shareholders wonder about future strategic plans.
- The European Central Bank discourages speculation about bond-buying intentions.
- Facebook (FB) shares are now less than half of its IPO price, declining another 1% Monday morning.
- Wal-Mart (WMT) Posts Lackluster Earnings on Weak International Growth.
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Posted in ...Daily Market Commentary