Funny how fortunes swing. Just a few weeks ago, BP was racing quickly to the bottom as Apple was contemplating world domination. This week, their fortunes have reversed — if only a bit — as Apple confronts antenna engineering problems and BP’s shares are on the rebound on the promise of an oil cap and/or takeover.
Apple shares were down 3.73 (1.45%) to $249 and BP shares rose .84 (2.3%) to $37.02 in midday trading. Apple will be holding a press conference on Friday, as its antenna problems on the iPhone 4 appear to be expanding.
Read on, for the full news:
- An Apple engineer alerted CEO Steve Jobs to the presence of an antenna problem, reports Bloomberg.
- U.S. Sen. Schumer has written a letter to Steve Jobs about the iPhone 4 problems (AppleInsider). Dear Steve, my phone’s not working. Can you fix it for a tax break?
- The antenna problems don’t seem to be stopping Apple’s rollout of new products — an 11.6-inch MacBook and new iPod Touch are on the way (DigiTimes).
- Here’s some fun: A writer says the Droid X self-destructs if you try to modify it (MobileCrunch).
- If the Droid X is a big success, Verizon may not need the iPhone, says the New York Times. Somehow we doubt that.
- The Pentagon is running out of funds (Reuters). Soon to be downgraded to a Triangle.
- Manufacturing data bad = stocks down (Bloomberg). One question I’ve always had: If the stock market is “forward looking” and “discounting,” why can it react so violently to news?
- Billionaire Carlos Slim is digging for gold in Mexico (Bloomberg). Funny how even Billionaires want to find more money, isn’t it? I mean, I’d hit the beach after the first $2B.
- BP says it’s repaired the cap on the well and a test is proceeding (New York Times). We can only hope this doesn’t end in another disappointment.
- I’ve seen lots of folks distributing the “Methane Bubble Doomsday” story on the social networks. Other journalists appear to be debunking it. Don’t believe everything you read on the Internet, folks!
- Thierry Henry has retired from International football (WSJ). All washed up, at 32 years old, apparently. Hello MLS!
- I just don’t know what to think of this headline. What do you think? Woman With World’s Largest Breasts Fights For Life.
- 2.5 million muslims are threatening to quit Facebook (tnerd).