NST Online Business Times : latest

Posted: 27 Aug 2012 04:40 PM PDT

NEW YORK: Shares of Apple hit new record highs on Monday after it won its patent lawsuit against Samsung, but overall stocks traded mixed.

Stocks swung from early losses into gains and back again during the see-saw session amid little hard economic news.

The markets were firm "aided by a favourable patent ruling for Apple Inc and some M&A news," Charles Schwab & Co. analysts said, referring to multi-billion dollar deals in the banking and car rental sectors.

The Dow Jones Industrial Average finished down 33.30 points (0.25 percent) at 13,124.67.

The broad-based S&P 500 slipped 0.69 points (0.05 percent) to 1,410.44, while Apple's boost helped the tech-rich Nasdaq to a gain, adding 3.40 points (0.11 percent) to 3,073.19.

Apple shares scored new record highs, reaching US$682.07 before ending at US$675.48, up 1.9 percent. The California gadget maker was awarded US$1.05 billion in damages for patent infringement in a US court victory over Samsung on Friday, in one of the biggest patent cases in decade.

Google, whose Android system is used on Samsung smartphones, fell 1.4 percent.

Auto rental agency Dollar Thrifty jumped 7.5 percent on news that Hertz would pay US$2.3 billion for the company. Hertz shares gained 8.1 percent.

On the Nasdaq, Hudson City Bancorp soared 15.7 percent after announcing a deal to be taken over by M&T Bank Corp. in a US$3.7 billion cash-and-stocks transaction. M&T added 4.6 percent.

Hewlett-Packard led the Dow losers, down 2.1 percent amid ongoing worries about the personal computer market and Apple's continuing strength in consumer electronics. -- AFP

Kredit: www.nst.com.my

Isnin, 27 Ogos 2012

NST Online Business Times : latest

NST Online Business Times : latest

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