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Nasdaq Attaq: Sirius XM, News Corp Decline


The satellite radio company is easing off of yesterday's highs.

MINYANVILLE ORIGINAL The Nasdaq Composite Index (^IXIC) rose 0.12% today to 3,014.64 as economic indicators made investors more bullish on stocks.

Most active in the composite index today is Sirius XM (SIRI), which declined 3.03% to $2.40 per share after hitting a 52-week high yesterday. Sirius beat earnings forecasts yesterday and reported a surge in subscribers.

While Apple (AAPL) battles it out in a patent lawsuit with Samsung (SSNLF), Apple shares gained 0.50% to $620.26 per share, the biggest dollar-volume gain in the Nasdaq Composite.

In related news, Google (GOOG) will pay $22.5 million to settle a lawsuit from the Federal Trade Commission for its surreptitious security-preferences alterations on iPhones. Apple made the iPhone's browser reject cookies by default, while almost all browsers allow cookies. Google can't give you relevant search results without cookies, so it changed that default without even prompting or notifying the users.

News Corp (NWSA) shares are down 0.46% to $23.61 per share after Rupert Murdoch's media conglomerate showed a loss of $1.55 billion for its fiscal fourth quarter, driven mainly by a massive write down in the company's publishing business.

Twitter: @vincent_trivett
No positions in stocks mentioned.
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