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The Markets Now: Apple Gains on New Product News; Google Drops After Chairman Sells Stock

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Blue chips AIG and Goldman Sachs move up.

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Stocks edged down Monday as investors await more news from Europe and President Barack Obama's State of the Union speech.

The Dow (INDEXDJX:.DJI) fell 15 points to 13977.15 and the S&P 500 (INDEXSP:.INX) moved down 0.04% to 1517.25. The Nasdaq (INDEXNASDAQ:.IXIC) inched down 0.03% to 3192.85.

The New York Times and the Wall Street Journal both reported Apple (NASDAQ:AAPL) is working on a new wristwatch device. Its stock rose 1.96% to $484.22.

Goldman Sachs (NYSE:GS) named Gregg Lemkau as global co-head of mergers and acquisitions. He previously worked as Goldman Sachs' co-head of technology and media group. Shares moved up 0.32% to $152.11.

Hakon Invest (STO:HAKN) acquired the rest of Nordic retailer ICA's shares for $3.1 billion. The stock is up 18.6% at 156.00 SEK.

The Food and Drug Administration asked for more tests of Novo Nordisk's (NYSE:NVO) insulin Tresiba to further analyze heart risks. Shares took a beating, falling 13.73% to $165.88.

Regulatory filings show Google (NASDAQ:GOOG) Executive Chairman Eric Schmidt will sell $3.2 million worth of his 7.6 million shares, sending shares down 0.86% to $778.61.

Analysts expect Tesla Motors (NASDAQ:TSLA) to report a fourth-quarter loss of $0.59 per share. Shares sank 3.44% to $37.89.

Loews Corp. (NYSE:L) posted a fourth-quarter loss of $32 million or $0.08 per share, after Hurricane Sandy burdened the company with high insured losses. Its stock moved down 0.55% to $43.61.

Annie's (NYSE:BNNY) shares fell 1.40% to $36.04 after the company reported second-quarter fiscal 2013 earnings, bringing in $46.7 million in net sales, an increase of 20.1%. Adjusted net income for the second quarter was $0.24 per share compared to $0.22 per share for the second quarter of fiscal 2012.

Lion's Gate (NYSE:LGF) will report third-quarter earnings of $0.21 per share, analysts predict. Its stock inched up 0.10% to $19.15.

Nielsen Holdings' (NYSE:NLSN) fourth-quarter earnings are expected to reach $0.56 per share. Last quarter Nielsen beat expectations by $0.06 . Shares slumped 0.94% to $32.50.

American International Group's (NYSE:AIG) stock ascended 1.47% to $39.36. The New York Attorney General Eric Schneiderman is attempting to overturn a court decision that would block him from stopping a $115 million settlement between AIG shareholders and its former CEO.

The UK Accounting regulator The Financial Reporting Council is probing Autonomy Corp (PINK:AUTNF) accounts between 2009 and 2011. Hewlett-Packard (NYSE:HPQ) recently acquired Autonomy, taking a $8.8 billion writedown. Shares moved up 1.26% to $65.20.

Amgen (NASDAQ:AMGN) shares fell 1.51% to $85.00. The biotech drugmaker raised its 2013 earnings outlook to account for government tax settlement and said it predicts $1 billion in sales by 2015 from new developments in emerging markets like Japan and China.

See also:

10 Things You Need to Know This Monday

Why Google's Cloud is a Pandora's Box

Has Apple Fallen Out of Favor in the World of Product Placements?

No positions in stocks mentioned.
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