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Unfortunately, that day has come
In a letter released Wednesday, visionary and leader Steve Jobs announced his resignation as Apple's
Apple shares fell by about 5% during after-hours trading Wednesday, but have largely recovered. Many believe it was a matter of when and not if Jobs would leave his position, and remain unshaken about Apple's bright future. The board appointed Jobs as chairman and Cook became an immediate member. Read more at The Wall Street Journal.
Buffett to B of A's rescue
Bank of America
Bank of America had lost half of its value up until yesterday on worries it would have to access the public market to raise capital. Under new international regulation standards, banks will need to meet higher capital requirements, which Bank of America was not expected to meet. The bank's stock price jumped more than 20% in early morning trading, but has moderated a bit since. Read more at Bloomberg.
Myriad Genetics still faces challenges
Even though a court upheld Myriad Genetics'
Undervalued oil bulls
Oil giants have been having a particularly hard time during the market's volatility, but it seems that they may be the better option as opposed to investing in oil itself. Brent crude oil prices are at $110 a barrel, 15% above its price at the beginning of the year despite the crisis in Libya. Meanwhile, analysts are predicting oil will have an average price of only $106 for 2011. The risk of a dip in oil prices puts the actual producers, like ExxonMobil
So there you have it, the top financial stories for this afternoon. If you are interested in getting all the news and commentary on these stocks, use the links below to put them on your free stock-tracking watchlist.