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At the closing bell, the Dow Jones Industrial Average fell 25.82 points to finish at 16,276.95. The Nasdaq dipped 50.4 points to finish at 4,226.38, while the S&P 500 hit an intraday all-time high before falling 9.07 points to close at 1,857.46.
Here's a recap of other major events today:
- Americans to Stand in Long Line: The iPhone 6 will likely come out in the late summer or early fall, according to analysts covering Apple Inc. (Nasdaq: AAPL). This will be a boon to company suppliers, which will likely begin taking component orders in July. It is widely rumored that Apple will increase the size of the phone display due to the wide popularity of the Samsung Galaxy S4. Shares of Apple were up more than 1% on news it was planning a streaming TV service with Comcast Corp. (Nasdaq: CMCSA).
- Slaps on the Wrist: Direct marketing company Nu Skin Enterprises Inc. (NYSE: NUS) saw shares rocket more than 18% after Chinese authorities announced plans to fine the company just $540,000 over its marketing practices. Investors were thrilled that China will take no further action, which could have included larger fines and even sanctions in the country. The nation's consumer watchdog agency said it may tighten regulations on the direct marketing industry.
- Can This Stock Recover: Shares of Symantec Corp. (Nasdaq: SYMC) jumped more than 3.74% on Monday, pushing the stock back in the black after a horrible Friday session. The stock came under heavy selling pressure after the security software company fired Chief Executive Steve Bennett. Investor concerns have also grown, as the company has not been meeting its turnaround goals of 5% revenue growth and 30% operating margins. Company leaders appointed board member Michael Brown, a veteran of Quantum.
- What Can't Apple Do: Following rumors that Apple may launch an iTunes app for Android devices, Internet radio company Pandora Media Inc. (NYSE: P) saw shares plummet by more than 8.3%. It has been a tough five days for Pandora. Last week, the company announced it would have to increase its monthly subscription service by $1, leading to a revolt among its subscribers. The company is still currently valued at a staggering $6.16 billion.
- New Board Members: Shares of Herbalife Ltd. (NYSE: HLF) spiked as much as 7.2% on news that the company would nominate three additional board members supported by activist investor Carl Icahn. The company will nominate Hunter C. Gary, Jesse A. Lynn, and James L. Nelson for election to its 13-member board at its annual meeting in Los Angeles on April 29. All three men are either employees or independent directors of Icahn Enterprises (Nasdaq: IEP).
Editor's Note: We've uncovered the secret behind this year's hottest investment. If you like IPOs, this is a must-see story.
Monday's Top Three Profit Opportunities
- Profit from the End of This Secret "Fix": For nearly 100 years, the London gold price fix has been widely used as an industry benchmark. But recent rumors of benchmark manipulation have suppressed gold prices for a decade. That means, very soon, the price could spike to incredible levels, and you'll need to make this play before it does…
- Invest Now in These IPOs Before Anyone Else: High-tech IPOs are white hot right now, but the temperature rises even higher for investors with an inside view. And that's what Money Morning's Michael A. Robinson is sharing today with a way you can capture the riches of the boom about to hit investors.
- The Biggest "Buy" Signal We've Seen: There are many reasons insiders sell shares of their company, but there's really only one reason they buy. They believe their company's share price is headed higher – much higher. Today, Money Morning Executive Editor Bill Patalon reveals one insider deal on an inexpensive defense contractor that's up big since its CEO bought shares…
After reading this, you'll be laughing at investors who are worried about the next market sell-off. Start profiting today…
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.